The Federal Government has announced plans to issue a ₦729 billion bond to settle verified legacy debts owed to electricity generation companies (GenCos), in a bid to restore liquidity in Nigeria’s power sector and boost investor confidence.
According to a statement by the Nigerian Bulk Electricity Trading Plc (NBET), the issuance scheduled to follow an Investors’ Forum on July 21, 2026 marks the second under the Presidential Power Sector Debt Reduction Programme.
Together with the ₦501bn released in January 2026, the total value of the first two issuances will reach about ₦1.23 trillion.
NBET confirmed that the first coupon and principal repayment on the Series 1 bond, which matured on July 14, 2026, was settled in full, underscoring the government’s commitment to meeting its obligations.
Chief Executive Officer of NBET, Johnson Akinnawo, described the upcoming issuance as a milestone in efforts to stabilize the electricity market.
“The second issuance demonstrates the Federal Government’s commitment to
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