NIGERIA, Dec. 5 -- The approval, issued by President Bola Tinubu and endorsed by the National Economic Council chaired by Vice President Kashim Shettima, is being described as one of the most sweeping interventions in the energy sector in recent years.



The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, confirmed the development and noted that the cleared arrears had accumulated from years of unmet gas supply obligations.

According to him, these outstanding payments weakened the financial strength of producers, slowed investment decisions and limited their ability to support power plants with adequate gas volumes.



The News Chronicle gathered that the backlog of unpaid invoices also contributed to declining electr...