FG raises N1.23trn to tackle N4trn GenCos’ legacy debt

Author: Henry OduahPublished on: September 14, 2026Country: Nigeria

Business & Economy

FG raises N1.23trn to tackle N4trn GenCos’ legacy debt

The Federal Government has raised about N1.23 trillion through two bond issuances to address a N4 trillion legacy debt owed to electricity Generation Companies (GenCos). Mr. Akin Odeyemi, CEO of Nigerian Bulk Electricity Trading Plc, announced that the second issuance raised N728.9 billion, following N501 billion secured in January. This program aims to restore financial confidence and sustainability in the Nigerian Electricity Supply Industry.

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