President Bola Tinubu has assured electricity generation companies (GENCOs) of his administration’s readiness to resolve the sector’s decade-long liquidity crisis, as the Federal Government begins verification and validation of debt claims amounting to over ₦4 trillion.

The President gave the assurance on Friday at the Presidential Villa, Abuja, during a high-level meeting with the Association of Power Generation Companies (APGC) led by retired Colonel Sani Bello.

The engagement comes as concerns mount over the sustainability of ongoing reforms amid mounting debt, dwindling liquidity, and increasing pressure from financial institutions.

President Tinubu appealed to the GENCOs and their bankers for patience and understanding, affirming that credible audits were underway to reconcile legacy claims dating back to 2015.

“I accept the assets and liabilities of my predecessors; that is leadership. But that acceptance must be based on verifiability. I need to wear the audit cap of authenticity.

“We’re not just spraying deodorant on past issues; we are building the foundation for a future of industrial growth and prosperity,” he said. The President disclosed that a ₦4 trillion bond programme has received his anticipatory approval, subject to final verification. He underscored his administration’s commitment to creating a sustainable investment climate and avoiding asset seizures that could jeopardise national development.

“To our friends in the banking sector, let’s avoid foreclosures. Sharpen your pencils, but keep your erasers handy,” Tinubu said. “Let’s persevere together. Power is the most important discovery of humanity in the past 1,000 years. It is the key to unlocking human dignity and economic prosperity.” President Tinubu maintained that his government would not be distracted from laying a solid foundation for the sector.

“We are not afraid of hard decisions. We will resolve this problem, not bury it. Let’s move together, not as debtors and creditors, but as partners building Nigeria’s future,” Tinubu said. Nigerian cuisine recipes

The President’s Special Adviser on Energy, Mrs. Olu Verheijen, revealed that a total of ₦4 trillion in GENCO claims had been presented to government auditors, of which ₦1.8 trillion had been validated so far.

“The claims date back to 2015, covering power purchase agreements, gas supply contracts, and unfunded tariff shortfalls

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