NDPHC Approaches Bond Market To Clear Gencos’ Debts

The Managing Director/Chief Executive Officer, Engr Jennifer Adighije, said her company has approached the bond market under the Federal Government’s power sector refinancing plan to raise funds aimed at settling outstanding government indebtedness to power generation companies (Gencos).

Though she did not disclose the actual amount requested under the bond arrangement, THE WHISTLER can report that as of the middle of 2025, the federal government’s liabilities to GenCos had hit about N6tn in unpaid electricity subsidies and invoices.

Also in April, the federal government  announced a plan to pay them N2tn of the N4tn debts before the end of the year.

But Adighije, who spoke recently at an event to mark NDPHC’s 20th anniversary in Abuja, said the move, which has the backing of President Bola Tinubu and the Minister of Power, is designed to unlock much-needed liquidity in the electricity value chain and stabilise power generation across the country.

According to her, the refinancing initiative is expected to be a game changer for Nigeria’s power sector, as it will ease the financial pressure on Gencos, improve their operational capacity, and ultimately support more reliable electricity supply nationwide.

She reaffirmed NDPHC’s commitment to strengthening Nigeria’s energy infrastructure and supporting national development.

The NDPHC MD noted that the company’s mandate goes beyond power generation, with significant interventions delivered across the transmission and distribution segments of the electricity value chain.

“In the transmission segment alone, we have added over 9,000 megavolt-amperes (MVA) of installed transformer capacity, rolled out transmission substations, executed line-bay extensions, and constructed hundreds of kilometres of transmission lines across the country,” she said.

She added that under her leadership, NDPHC is adopting a more customer-centric approach while leveraging the provisions of the Electricity Act to deepen strategic collaborations.

The partnerships, she explained, span bilateral partners, eligible customers, regional partners under the West African Power Pool (WAPP), and other market participants.

Adighije stated that the combination of infrastructure expansion, market-driven partnerships, and innovative financing through the bond market positions NDPHC to play a central role in resolving long-standing challenges in the power sector and accelerating Nigeria’s energy transition and economic growth.

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