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Nigeria issued a ₦501 billion bond to pay power firms, easing debt and boosting sector stability.
Nigeria successfully issued a ₦501 billion Power Sector Bond, fully subscribed by financial institutions, to settle part of a ₦827 billion debt to five power generation companies, resolving years of unpaid arrears.
The funds will support the first two payment phases, improving sector liquidity and investor confidence.
The initiative, led by President Bola Tinubu, aims to stabilize the power sector, enhance electricity supply, and unlock new investments.
Meanwhile, the World Bank Group has committed over $2.5 billion to Nigerian suppliers in five years, with more than 6,800 contracts awarded, including a new $250 billion global procurement window for Nigerian firms.
Nigeria emitió un bono de 501 mil millones para pagar a las empresas de energía, aliviando la deuda e impulsando la estabilidad del sector.