By Obas Esiedesa, Abuja
The Federal Government is set to issue a second bond worth about N729 billion to electricity generation companies (GenCos) as part of efforts to clear verified legacy debts and improve liquidity in Nigeria’s power sector.
The planned issuance will complete the first phase of the N4 trillion Presidential Power Sector Debt Reduction Programme approved by President Bola Tinubu to address longstanding financial obligations in the Nigerian Electricity Supply Industry (NESI).
The second bond issuance, scheduled to follow an Investors’ Forum this week, comes after the successful issuance of a ₦501 billion Series 1 bond in January 2026.
Together, the two issuances will constitute the N1.23 trillion first phase of the debt reduction programme aimed at settling verified debts owed to GenCos and strengthening the financial sustainability of the electricity sector.
