FG to Issue N729bn Power Bond, Hosts July Investor Forum
The federal government will issue a second N729 billion bond under the Presidential Power Sector Debt Reduction Programme to clear verified legacy debts owed to generation companies and boost liquidity in the electricity market. This follows a successful N501 billion issuance in January, bringing total funding to N1.23 trillion and completing phase one of the N4 trillion initiative approved by President Tinubu. The Nigerian Bulk Electricity Trading Plc reports that coupon and principal payments on the January bond were settled in full on July 14, underscoring government commitment and creditworthiness. NBET’s CEO, Johnson Akinnawo, says the bonds are backed by the full faith of the federal government and supported by a robust risk mitigation framework. He adds that the programme will restore confidence, attract fresh investment and promote sustainable electricity generation for Nigerians.
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