The Federal Government says it will host an Investors’ Forum on Tuesday ahead of the issuance of a second bond valued at approximately N729bn for the settlement of verified legacy debts owed to electricity generation companies (GenCos).

A statement said the proposed issuance will complete the first phase of the Presidential Power Sector Debt Reduction Programme, following the successful issuance of approximately N501 billion in January 2026.

“Notably, the first coupon and principal repayment on the Series 1 bond fell due on 14 July 2026 and was paid promptly and in full, underscoring the Federal Government’s creditworthiness, its unwavering commitment to contractual obligations, and the reliability of income to investors under the programme – a track record expected to further reinforce market confidence ahead of the second issuance.”

It explained that the two issuances constitute the N1.23 trillion Series 1 and 2 components of the Capital Market Multi-Instrument Issuance Programme.

“This represents the first phase of the broader N4 trillion programme approved by President Bola Ahmed Tinubu, GCFR to address legacy financial obligations in Nigeria’s electricity sector.”

The CEO of the Nigerian Bulk Electricity Trading Plc (NBET), Mr. Johnson Akinnawo, described the forthcoming issuance as another significant milestone in the Federal Government’s efforts to restore liquidity, reinforce investor confidence and promote the long-term stability of the power sector.

“The second issuance demonstrates the Federal Government’s commitment to resolving verified legacy obligations through a transparent, structured and market-based mechanism,” Mr Akinnawo said.

“By improving liquidity across the electricity value chain, the programme will help strengthen the financial position of market participants, support new investment and promote sustainable electricity generation for the benefit of Nigerians,” he said.

Akinnawo recalled that the Federal Executive Council approved the establishment of the N4trillion Presidential Power Sector Debt Reduction Programme in 2025, with NBET designated as the sponsoring institution for the settlement of verified legacy debts in the sector.