The Federal Government has issued an additional N729 billion bond, to defeat the N4 trillion debts owed generation companies….
The Federal Government has issued an additional N729 billion bond, to defeat the N4 trillion debts owed generation companies.
In January, the government issued a N501 billion bond and now, the two instruments constitute the N1.23 trillion Series 1 and Series 2 components of the Capital Market Multi-Instrument Issuance Programme.
In July 2024, President Bola Tinubu authorised a comprehensive review of the power sector’s liabilities, leading to the constitution of the Presidential Power Sector Debt Reduction Committee.
The Committee is to establish the verified composition of sector liabilities, restore counterparty trust through co-ordinated settlement and design a sustainable, market-based resolution framework.
