- First tranche targets legacy debts choking Nigeria’s electricity market
- Pension funds anchor deal as government seeks sector reset
ABUJA, NIGERIA — Nigeria has raised 501 billion naira ($367mn) in the first tranche of electricity bonds aimed at settling long-standing debts that have crippled the country’s power industry, advisers said.
The bond sale is part of a broader programme to clear verified arrears estimated at more than 4 trillion naira, liabilities that have weighed down electricity generation, gas supply and investor confidence for nearly a decade.
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