My people, you don hear am? Federal Government don announce say dem don secure N501 billion wey full ground for di Presidential Power Sector Debt Reduction Programme. Na true, e no be small matter o!
Dis one wey dem talk, na beta news for di power sector wey don dey suffer from long-time wahala. According to di Special Adviser to di President on Energy, Olu Verheijen, di bond issue attract plenty investors- pension funds, banks and asset managers come gree put their money for di matter.
Verheijen, for Lagos wey day January 27, 2026, yarn say dis proper na correct reset for di electricity market. E talk say dis initiative no be just to settle debt, but to bring bigger financial and structural reforms. Because make we no lie, di power sector dey kolo before now.
Di Series 1 Power Sector Bond wey NBET Finance Company Plc organize close for ₦501 billion. Dem raise ₦300 billion from di capital market and di remaining ₦201 billion go directly to di power generation companies. You fit see say dis one na correct investment to fix wetin don scatter.
Wetin we dey hear be say dem don settle electricity bills wey between February 2015 and March 2025 don happen. Five generation companies like First Independent Power Limited, Geregu Power Plc, Ibom Power Company Limited and others don sign wetin dem dey call Settlement Agreements with Nigerian Bulk Electricity Trading Plc. D total money wey dem dey negotiate for di settlement na ₦827.16 billion, and na four instalments dem go take pay am.
Di first and second instalment wey go cost ₦421.42 billion go come from di money wey dem raise. E mean say over 50% of di total amount go don dey ready to settle dem. As e be so, e go really help di power companies breathe small and fit invest more for di sector.
Kola Adesina wey be di Group Managing Director of Sahara Power Group dey feel am well well. E talk say dis move go restore investor confidence. “No be small matter, if dem no fit recover wetin dem don invest before, who go wan put more money for di sector?”
E also add say once dis whole gist finish, dem go quickly start construction for di second phase of di Egbin Power Plant. E dey thank di President for dis kind decision to settle di issue once and for all.
As dem dey clear di old debts, dis programme go expect improve liquidity for power companies, unlock fresh investments and bring reliable electricity supply wey everybody dey need. Verheijen no forget remind us say di Federal Government dey serious about making sure dis wetin dem don start waka no go stop.
Na so far and wide we go fit turn di power sector around if dem fit handle am well. Abeg, make we dey watch how e go unfold in di coming months. We sabi say Naija fit rise up!
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