FG Launches N590bn Bond to Tackle N4tn GenCos Debt Crisis
[NigerianEye - Nigeria] - 9/12/2025
The Federal Government has rolled out a N590 billion first-tranche bond issuance as part of a broader N4 trillion programme by NBET Finance Company Plc, aimed at clearing a staggering N4 trillion in outstanding debts owed to power generation companies (GenCos).Announced on Monday, the initiative includes N300 billion in cash bonds offered to the open market and N290 billion in non-cash bonds directly allocated to GenCos under matching terms. The bonds carry a seven-year maturity, fixed-rate coupons with semi-annual interest payments, and amortising redemptions, with issuance slated between (…)
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