The Nigerian Federal Government raises about ₦729 billion through a bond issuance aimed at reducing outstanding electricity sector debts. Premium Times reports the government raises ₦728.9 billion via a Series 2 issuance under a larger ₦4 trillion Power Sector Multi-Instrument Issuance Programme. The Punch similarly says the bond proceeds are used to pay power generation companies.
Both outlets frame the move as part of an ongoing debt repayment effort tied to liabilities in the power sector. Premium Times adds that the bond issuance brings the total raised under the debt reduction programme to more than ₦1.1 trillion, indicating multiple tranches have been completed or are underway. The Punch focuses more directly on settling arrears owed to electricity generation firms, without detailing the overall programme size or cumulative totals.
Overall, the sources agree on the key figure—approximately ₦729 billion—and the stated purpose: addressing debts owed to power companies as part of the government’s broader power sector financing plan.
