NBET Completes Power Sector Debt Settlement Under Tinubu’s Initiative

The Nigerian Bulk Electricity Trading Plc (NBET) began settling debts owed to electricity generation firms and gas suppliers through the Nigeria Government’s Power Sector Debt Reduction Programme on October 11, 2026. This action follows the issuance of ₦728.979 billion in Series Two bonds under the ₦4 trillion Power Sector Multi-Instrument Issuance Programme.

The settlement includes ₦402 billion in cash bonds and ₦326.979 billion in non-cash bonds, as stated by NBET’s Managing Director and Chief Executive Officer, Akin Odeyemi, in a statement after the bond signing.

Odeyemi characterized the settlement as a key advancement in President Bola Tinubu’s debt reduction strategy, which targets resolving long-standing financial obligations and enhancing liquidity within Nigeria’s electricity value chain.