The Nigerian Bulk Electricity Trading PLC, NBET, has announced the successful completion of the first phase of its 4 trillion Naira Power Sector Bond Programme. The bond issue raised 501 billion Naira, which is part of the government’s efforts to address the liquidity crisis in the power sector.

The 7-year bonds were fully subscribed by asset managers, banks, pension funds, and retail investors, and are guaranteed by the Federal Government of Nigeria. The Acting Managing Director of NBET, Mr. Johnson Akinnawo, says this is a major step forward in resolving the power sector’s challenges.

The funds raised will improve liquidity across the value chain, enable operators to stabilize their operations, and support renewed investment in the Nigerian Power Sector. This is part of Phase 1 of the Programme, aimed at restoring liquidity, strengthening balance sheets, and creating a sustainable foundation for electricity supply in Nigeria.

NBET says it remains committed to working closely with the Federal Government and market participants to ensure transparent and efficient deployment of proceeds, and to enhancing the long-term financial viability of Nigeria’s electricity market.

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