Nigeria approved a phased plan to refinance 4 tln naira (2.61 bln USD) in electricity sector debt owed to 27 power generation firms from 2015-2023. The plan, backed by President Tinubu, will be executed under the Debt Management Office within weeks, likely via bonds. The move is paired with subsidy cuts and tariff increases to stabilize the sector and save 718 mln USD annually.