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2 clusters · 9 sources · 3 days · First seen · Last updated
Nigerian power sector debt settlement
Overview
Nigerian Bulk Electricity Trading Plc (NBET) has initiated the settlement of outstanding debts owed to gas suppliers and power generation companies (GenCos). This process is facilitated by the issuance of ₦728.979 billion in Series 2 Bonds, which is part of a broader ₦4 trillion Power Sector Multi-Instrument Issuance Programme.
The settlement structure consists of ₦402 billion in cash bonds and ₦326.979 billion in non-cash bonds. According to NBET Managing Director and CEO Akin Odeyemi, the move is a central element of the Presidential Power Sector Debt Reduction Programme. The initiative aims to address historical legacy debts and restore liquidity throughout the electricity value chain to improve market stability and generation reliability.
Entities
Nigeria · Nigerian Bulk Electricity Trading Plc · Akin Odeyemi · Bola Ahmed Tinubu · Rural Electrification Agency
Timeline
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[BUSINESS] 4 sourcesNBET begins N729bn debt settlement for Nigerian power sector
NBET has started settling ₦729bn in debt to GenCos and gas suppliers via bond issuances, while the REA secured a ₦100bn facility from Stanbic IBTC to boost renewable energy access in Nigeria.
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[BUSINESS] 5 sourcesNBET begins N729bn debt settlement for Nigerian power sector
NBET has started paying N728.98 billion in cash and non-cash bonds to Nigerian power generation companies and gas suppliers to resolve legacy debts and improve market liquidity.
Sources
businessday.ng · dmarketforces.com · gatmash.com · primanews.org · punchng.com · realnewsmagazine.net · solacebase.com · thetidenewsonline.com · tribuneonlineng.com