Power Minister, Joseph Tegbe
The Federal Government is set to issue a second bond worth about N729bn to settle verified legacy debts owed to electricity generation companies, in a move aimed at restoring liquidity to Nigeria’s power sector and improving investor confidence.
The planned issuance, which will be preceded by an Investors’ Forum scheduled for Tuesday, July 21, 2026, will complete the first phase of the Presidential Power Sector Debt Reduction Programme, bringing the total value of the first two bond issuances to about N1.23tn.
The development was disclosed in a statement issued on Sunday by the Nigerian Bulk Electricity Trading Plc, which said the latest bond issuance follows the success of the release of about N501bn in January 2026 under the programme approved by President Bola Tinubu.
It explained that the two issuances represent the N1.23tn Series 1 and Series 2 components of the Capital Market Multi-Instrument Issuance Programme, which is the first phase of the broader N4tn Presidential Power Sector Debt Reduction Programme approved by the President to address longstanding financial obligations in Nigeria’s electricity sector.
