{"id":2618,"date":"2026-10-28T17:15:57","date_gmt":"2026-10-28T17:15:57","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/28\/fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister\/"},"modified":"2026-10-28T17:15:57","modified_gmt":"2026-10-28T17:15:57","slug":"fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/28\/fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister\/","title":{"rendered":"FG pays N1.23tn of N3.3tn GenCos debt \u2014 Minister"},"content":{"rendered":"<div readability=\"59.107095046854\">\n<p>The Federal Government says it has paid N1.23tn out of the N3.3tn debt owed to gas suppliers.\n<\/p>\n<p>The Minister of Power, Joseph Tegbe, disclosed this while briefing State House correspondents shortly after Wednesday\u2019s Federal Executive Council meeting presided over by President Bola Tinubu at the Council Chamber of the State House, Abuja.\n<\/p>\n<p>He said the payment was part of ongoing efforts to resolve liquidity and debt challenges in the power sector, which had constrained the supply of feedstock gas to generation companies.\n<\/p>\n<p>\u201cSo far, we have been able to pay N1.23tn out of the N3.3tn debt owed to the GenCos, which has been considered a challenge in respect of supply of feedstock gas,\u201d he stated.<\/p>\n<p>Tegbe added that beyond the debt payments, the government was also working to optimise existing assets in the sector and build long-term resilience into the national grid through targeted investment in transmission infrastructure. <\/p>\n<div class=\"read-also\">\n<header>Related News<\/header>\n<\/p><\/div>\n<p>The Minister said the government planned to expand transmission capacity from the current 5,000 megawatts to approximately 19,000 megawatts.\n<\/p>\n<p>\u201cWe plan to build resilience into the grid by building out and investing in grid expansion.<\/p>\n<p>\u201cThe intention is to upgrade transmission capacity from 5,000 megawatts today to about 19,000 megawatts,\u201d he said.\n<\/p>\n<p>More to come\u2026\n                    <\/p>\n<\/div>\n<div readability=\"12.846153846154\">\n                                                                <b><a href=\"https:\/\/punchng.com\/author\/sangbulu\">Stephen Angbulu<\/a><\/b><\/p>\n<p>With three years of experience, Stephen, The PUNCH correspondent, has been covering Nigeria\u2019s presidency, politics, security, immigration and trafficking in persons<\/p>\n<\/div>\n<div readability=\"14.852589641434\">\n<p> All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.<\/p>\n<p class=\"contact\">Contact: <a href=\"\/cdn-cgi\/l\/email-protection#96e2fef3f3f2ffe2f9e4d6e6e3f8f5fef8f1b8f5f9fb\"> <span class=\"__cf_email__\" data-cfemail=\"087c606d6d6c617c677a48787d666b60666f266b6765\">[email\u00a0protected]<\/span> <\/a> <\/p>\n<\/p><\/div>\n<p>Source: <\/p>\n<div class=\"nSourse\">Punch Newspapers &#8211; Latest News<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Government says it has paid N1.23tn out of the N3.3tn debt owed to gas suppliers. The Minister of Power, Joseph Tegbe, disclosed this while briefing State House correspondents&hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2618","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=2618"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2618\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=2618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=2618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=2618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}