The Federal Government announces it will issue a ₦729 billion bond to settle verified “legacy” debts owed to electricity generation companies (GenCos), aiming to improve liquidity in Nigeria’s power sector. Reports citing statements from Nigerian Bulk Electricity Trading Plc (NBET) say the bond issuance is scheduled to follow an Investors’ Forum on 21 July 2026 and represents the second issuance under the Presidential Power Sector Debt Reduction Programme. The programme, approved in 2025, has a total size of ₦4 trillion and is implemented through NBET Finance Company Plc, a special purpose vehicle supported by the Federal Government.
Sources also note that the first issuance released in January 2026 amounted to ₦501 billion, bringing the combined total of the first two issuances to about ₦1.23 trillion. NBET confirms that the first bond’s coupon and principal repayment for Series 1 were paid in full upon maturity on 14 July 2026. The planned second bond is presented as a structured, market-based mechanism intended to resolve long-standing verified obligations, stabilize the electricity market, and support greater investor confidence and investment in the sector.
