FG-Backed Bond Signals New Push To Fix Power Sector Liquidity

NBET Completes ₦501bn Bond Issuance to Strengthen Power Market

THE Nigerian Bulk Electricity Trading Plc has closed a ₦501.021 billion bond issuance under its ₦4 trillion Power Sector Multi-Instrument Programme, targeting long-standing liquidity gaps in Nigeria’s electricity value chain.

Structure of the Issuance

NBET said the tranche includes a ₦300 billion capital market bond and a ₦201.021 billion bond issued to GenCos that signed the Settlement Agreement. The offer attracted broad investor interest and was fully subscribed.

Issued through NBET Finance Company Plc, the seven-year bonds are backed by the full faith and credit of the Federal Government.

Sector-Wide Impact

Acting Managing Director Johnson Akinnawo described the transaction as a breakthrough for the power sector, noting that improved liquidity would help stabilise operations and encourage investment.

Reform-Driven Collaboration

The deal was arranged by Cardinal Stone Partners Limited, with support from the Office of the Special Adviser to the President on Energy. NBET acknowledged the role of the Finance Ministry and regulators, including the CBN, DMO, SEC, PenCom, FIRS and NERC.

NBET said proceeds from the issuance will be deployed transparently to strengthen balance sheets and support reliable electricity supply nationwide.