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EDITORIAL: Tinubu Approved ₦3.3tr Power Sector Debt in 2024, Approved Same ₦3.3tr Power Sector Debt in 2026

Tim Elombah by Tim Elombah
April 6, 2026
in Economy, Special Report
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EDITORIAL: Tinubu Approved ₦3.3tr Power Sector Debt in 2024, Approved Same ₦3.3tr Power Sector Debt in 2026
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TDThe Daily Post reported in May 2024 that President Bola Tinubu had approved the payment of ₦3.3 trillion in power sector debts.

Nigerians were told this was a decisive move to stabilize the electricity industry.

The Minister of Power, Adebayo Adelabu, stood before cameras and confirmed the figure.

It was presented as a landmark intervention—an expensive but necessary step to rescue the sector from collapse.

Fast forward to April 2026, and This Dawn News carries the headline: “Tinubu Approves ₦3.3 Trillion Power Sector Debt Settlement.”

The same amount. The same sector. And The same promise.

This raises an obvious question: what happened to the ₦3.3 trillion supposedly approved two years ago?

Was it ever paid? If so, why is the government announcing the exact same figure again as if it were new?

If not, then the earlier announcement was nothing more than political theatre—an empty declaration designed to pacify a weary public.

Recycling Announcements by Tinubu, Not Solutions

The Tinubu administration has developed a troubling habit of recycling announcements without accountability.

Nigerians are told debts have been “settled,” subsidies “removed,” or reforms “implemented,” only to hear the same declarations repeated months or years later.

This pattern erodes trust and exposes the government’s lack of transparency.

The power sector has turned out to be a graveyard of broken promises.

Billions have been poured into debt settlements, bailouts, and interventions, yet electricity supply remains erratic, tariffs climb, and distribution companies continue to complain of insolvency.

If ₦3.3 trillion was indeed approved in 2024, Nigerians deserve to see the results.

Where did the money go? Which debts were cleared? Why is the same figure resurfacing in 2026?

President Bola Ahmed Tinubu
President Bola Ahmed Tinubu

The Ridiculousness of the Narrative

It is insulting to citizens that the government expects them to swallow the same headline twice. This is not governance; it is propaganda.

Announcing the same ₦3.3 trillion debt settlement in 2024 and again in 2026 is either a sign of gross incompetence or deliberate deception.

The irony is that while trillions are supposedly being spent, ordinary Nigerians still endure blackouts, inflated bills, and the burden of fueling generators.

The government’s narrative collapses under the weight of lived reality.

Nigerians Seek Accountability from Tinubu, Not Repetition

What Nigerians need is not another recycled press release but accountability.

If ₦3.3 trillion was approved in 2024, the government must publish detailed records of disbursement and impact.

If the money was never released, then the administration must admit it misled the public.

Either way, repeating the same announcement in 2026 insults the intelligence of the nation.

The Tinubu government’s handling of the power sector debt saga epitomizes the ridiculous lies that have become routine.

Nigerians are not fooled by recycled headlines.

They demand transparency, results, and honesty—not another round of empty promises dressed up as policy.

Until the government can show where the trillions went, every new “approval” is nothing more than a hollow echo of past deception.

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Tim Elombah

Tim Elombah

Former Editor of Elombah.com (https://elombah.com), former Editor-in-Chief of News Band (https://news.band), former GM/COO of Diaspora Digital Media [DDM] (https://diasporadigitalmedia.com), MD of This Dawn News.

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EDITORIAL: Tinubu Approved ₦3.3tr Power Sector Debt in 2024, Approved Same ₦3.3tr Power Sector Debt in 2026

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