…launches new payment plan of N729 bn bond
The Federal Government said it has disbursed N333 billion to eight electricity Generation Companies (GenCos) operating 17 power plants, completing the initial tranche of its power sector debt settlement programme.
The government has also launched the second tranche of a bond valued at about N729 billion for the settlement of verified legacy debts owed to Gencos.
This payout also aims to boost operational capacity, marks a significant step toward relieving severe illiquidity across the electricity value chain and restoring investor confidence in the domestic power market.
Olu Verheijen, Special Adviser to the President on energy stated this at the Nigerian Bulk Electricity Trading Finance Company Plc Series II Bond Issue Investors’ Forum held in Abuja on Tuesday.
According to her, President Bola Tinubu’s administration has demonstrated its commitment to making a clean break from
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