Few issues define Nigeria’s economic story more sharply than electricity. Unreliable power costs Nigeria around $29 billion annually in lost economic activity. The federal government’s recent decision to approve the payment of ₦185 billion in long-standing debts owed to gas producers has been widely welcomed as a decisive step to restore confidence in the gas-to-power value chain. The question is whether this marks the beginning of a structural fix or just another brief uptick in a chronically unstable system.