FG Launches N1.23tn Bond to Clear Legacy Debts Owed Power Gencos, Gas Suppliers
[NigerianEye - Nigeria] - 12/12/2025
The Federal Government on Friday kicked off a N1.23 trillion bond issuance aimed at settling long-standing debts owed to power generation companies (Gencos) and gas suppliers, marking the first phase of the Presidential Power Sector Debt Reduction Programme.The Special Adviser to the President on Energy, Mrs Olu Verheijen, announced the development in a statement which was made available to newsmen on Friday by her media aide, Senan Murray.Speaking during the launch, Verheijen described the bond issuance as “a strategic reset, not a bailout,” stressing that clearing the verified legacy (…)
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