FG Signs 728.9bn Power Bond, Formalises Financing Deal to Offset Gencos’ Debt
• Oyedele says debt settlement must be backed by reforms, market discipline •NBET: It’s a milestone in efforts to address longstanding financial challenges •Two issuances raise combined N1.23 trillion within
The Nigerian federal government has signed financing documents for a N728.9 billion Series 2 power sector bond, completing a transaction aimed at settling part of its N4 trillion outstanding obligations to the electricity market. The signing ceremony in Abuja marked the formalisation of the financing arrangement after approval was secured for the Series 2 Tranche B of the bond, following the earlier issuance of the Series 2 Tranche A. The combined value of the two power-sector bond issuances now stands at N1.23 trillion within nine months, highlighting the government's ongoing efforts to address legacy debts and restore financial stability to the electricity market.
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