FG Begins Repayment of ₦4 Trillion Power Debt with ₦590 Billion Bond Issuance
The Federal Government has begun the process of repaying the four trillion naira debt owed to Power Generation Companies with the launch of a ₦590bn First-Tranche Bond Issuance.
The initial tranche, part of a wider four trillion naira NBET Finance Company PLC Bond Programme, is guaranteed by the Federal Government. It comprises three hundred billion naira in cash bonds to be issued to the market and two hundred and ninety billion naira in non-cash bonds to be directly allotted to Gencos on identical terms.
Newsmen gathered that details contained in the bond term sheet obtained revealed that the Series 1 Bond will be issued between November and December 2025.
Cardinalstone Partners Limited is serving as the Lead Issuing House and Financial Adviser.
