The Federal Government is set to raise about N729 billion through a second bond issuance to settle verified legacy debts owed to electricity generation companies (GenCos), as it steps up efforts to restore liquidity to Nigeria’s struggling power sector and attract fresh investment.
The planned issuance, scheduled to be preceded by an Investors’ Forum on July 21, 2026, will bring the total value of the first phase of the Presidential Power Sector Debt Reduction Programme to approximately N1.23 trillion, following the successful issuance of N501 billion in January.
The Nigerian Bulk Electricity Trading Plc (NBET), which disclosed the development on Sunday, said the latest issuance forms part of the Federal Government’s N4 trillion Presidential Power Sector Debt Reduction Programme, approved by President Bola Tinubu to clear longstanding payment obligations across the electricity value chain.
The programme is designed to tackle one of the biggest structural challenges confronting Nigeria’s power sector,
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