Africa Finance Corporation (AFC) Supports Successful Close of ₦729 Billion Series 2 Bonds to Advance Nigeria’s Power Sector Reforms

Africa Finance Corporation (AFC) ( https://www.AfricaFC.org/ ), the continent’s leading infrastructure solutions provider, today announced its critical role as Co-Financial Adviser on the successful close of the ₦728.9 billion Series 2 power sector bond transaction by NBET Finance Company Plc, under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The programme is designed to resolve over a decade of legacy debt obligations within the Nigerian electricity supply industry. This issuance follows the ₦501 billion inaugural Series 1 transaction completed in January 2026, where AFC played the same role of Co-Financial Adviser. The Series 2 close, which brings the cumulative issuance under the Programme to approximately ₦1.23 trillion, marks a significant milestone in the implementation of the ₦4 trillion Power Sector Multi-Instrument Issuance Programme.. The Presidential Power Sector Debt Reduction Committee (PPSDRC) oversees the Programme, with the Office of the Special Adviser to the President on Power provides technical leadership, implementing through the Nigerian Bulk Electricity Trading Plc (NBET)’s special purpose vehicle, NBET F