The Federal Government has signed a N728.979 billion Series 2 bond under its N4 trillion Power Sector Debt Reduction Programme. The transaction comprises N402 billion in cash bonds raised from the domestic capital market and N326.979 billion in non-cash bonds allotted to participating generation companies. At the signing ceremony in Abuja, NBET Managing Director Akinola Odeyemi said the transaction was a major step towards addressing longstanding financial challenges in the Nigerian Electricity Supply Industry. He added that the programme was designed to settle historical obligations, restore financial confidence, improve liquidity and create conditions for increased investment in electricity.
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