Abuja, NIGERIA – The Presidency has hit back at Arise TV anchor Rufai Oseni, accusing him of pushing “financial falsehoods” and “misinformation” regarding the federal government’s ongoing reforms and debt settlements in the power sector.
Okay News reports that O’tega Ogra, the Senior Special Assistant to President Bola Tinubu on Digital and New Media, issued a detailed rebuttal on Tuesday, April 7, 2026, to address claims made by the broadcaster.
Ogra clarified that the government has successfully negotiated legacy debt claims from power stakeholders down from ₦4.7 trillion to a verified ₦3.3 trillion—a reduction of nearly 30%.
Addressing Oseni’s skepticism regarding the progress of the settlement, Ogra revealed that as of March 31, 2026, eight Generation Companies (GenCos)—comprising both public and private entities—have signed agreements totaling approximately ₦2.28 trillion.
He dismissed the notion that the process was “phantom,” noting that ₦223 trillion has already been disbursed to GenCos and gas suppliers from the ₦501 billion raised in the first series of the funding phase.
The presidential aide further explained that the ₦3.3 trillion figure was the result of a rigorous regulatory review and reconciliation process authorized by President Tinubu to ensure policy credibility. He argued that the “process” itself is the core reform in a sector historically weakened by opacity.
While acknowledging Oseni’s point that debt settlement alone will not fix the power sector, Ogra maintained that the program is running alongside other structural reforms, including tariff alignment, metering expansion, and stronger payment discipline.
Ogra concluded by urging “serious analysis” from media practitioners, insisting that verified settlements and actual disbursements prove the reform is far from “accounting fiction.”
