Power sector bond: FG borrows ₦501bn to offset GenCos’ outstanding debt The Federal Government has approved the issuance of a ₦501 billion power sector bond to settle part of the long-standing debt owed to electricity generation companies (GenCos), in a move aimed at stabilising Nigeria’s fragile power sector. The bond, raised through the Debt Management Office (DMO), is designed to address accumulated payment shortfalls arising from electricity supplied to the national grid but not fully paid for due to liquidity challenges in the sector. Industry sources say the debt has severely...