FG to Issue N729bn bond to clear GenCos’ debt
By Obas Esiedesa, Abuja The Federal Government is set to issue a second bond worth about N729 billion to electricity generation companies (GenCos) as part of efforts to clear verified legacy debts and improve liquidity in Nigeria’s power sector.
The planned issuance will complete the first phase of the N4 trillion Presidential Power Sector Debt Reduction Programme approved by President Bola Tinubu to address longstanding financial obligations in the Nigerian Electricity Supply Industry (NESI).
Akinnawo recalled that the Federal Executive Council approved the N4 trillion Presidential Power Sector Debt Reduction Programme in 2025, with NBET appointed as the sponsoring institution responsible for settling verified legacy debts.
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