Nigeria’s government is pulling out all stops to fix the power crisis, launching a N1.23 trillion bond issuance over the next four months to pay off long-overdue bills to Gencos and gas suppliers—part of President Tinubu’s sweeping debt reduction plan.
Special Adviser on Energy Olu Verheijen announced the first-phase bonds at a virtual investor forum with Finance Minister Wale Edun and Power Minister Adebayo Adelabu, locking in 100% settlement deals so far; these 7-year government-backed instruments aim to restore cash flow, spark investments and end the vicious debt cycle without new bailouts.
Tariff hikes have already boosted DisCo collections from N1tn in 2023 to a projected N2.2tn this year, proving pricing reforms work—now paired with metering, discipline and liquidity to deliver reliable electricity Nigerians crave.
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