Federal Government Settles ₦333bn GenCos Debt, Pays First Bond Coupon Under Power Sector Reform

The Federal Government has taken another major step toward restoring confidence in Nigeria’s electricity sector by settling ₦333 billion of long-standing debts owed to electricity generation companies (GenCos) and successfully paying the first coupon on its power sector reform bond. The development forms part of the first phase of the government’s Power Sector Multi-Instrument Issuance…