FG SETTLES OVER N100BN GAS DEBTS TO BOOST POWER GENERATION

October 22, 2026

The Federal Government says it has settled more than N100 billion in outstanding gas debts since January 2026 as part of efforts to strengthen Nigeria’s gas-to-power value chain.

The Special Adviser to the President on Oil and Gas, Olu Verheijen, disclosed this on Wednesday while delivering a keynote address at the Africa Interviews Sustainability Forum 2026 in Lagos.

Verheijen said the payments were made under the Presidential Power Sector Financial Reforms Programme, which aims to improve the electricity sector’s financial stability and strengthen gas supply for power generation.

She also highlighted measures introduced since 2023 to promote the use of liquefied petroleum gas (LPG) for household cooking, including import duty waivers and zero-rated Value Added Tax on LPG and gas cylinders.

According to her, the incentives are designed to encourage cleaner cooking methods, reduce dependence on firewood and enable more households to benefit from Nigeria’s abundant gas resources.


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