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Funding issuanceNigeriaDeveloping story

Nigeria announces N729bn Series II power bond to deepen liquidity in electricity sector

On 21 July 2026 the Federal Government announced plans to raise ₦729 billion via a Series II bond under the Presidential Power Sector Debt Reduction Programme. The offer is scheduled to open 3 August 2026, target ₦400bn via book-building and issue ₦329bn as non‑cash instruments to eligible beneficiaries.

MSA Market DeskEvent 21 July 2026Reviewed 2 min read

The desk brief

On 21 July 2026 the Federal Government announced plans to raise ₦729 billion via a Series II bond under the Presidential Power Sector Debt Reduction Programme. The offer is scheduled to open 3 August 2026, target ₦400bn via book-building and issue ₦329bn as non‑cash instruments to eligible beneficiaries.

If completed as announced, the Series II issuance would inject domestic NGN liquidity into the power value chain and settle further verified obligations to GenCos, gas suppliers and service providers. Effects depend on successful book-building, regulatory approvals and timely settlement; non-cash allocations mean only part of the nominal amount will be immediate cash to market participants.

Book-building opens 3 Aug 2026; offer closes 14 Aug 2026; funding targeted 24 Aug 2026.

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Developing story

Further independent confirmation is required.

Public references supporting this brief.

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Price Discovery

Nigeria sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

15 priced bonds
9.18%8.18%7.18%6.18%5.18%20272033203920452051Nigeria 27 · Nov 2027 · 5.712%Nigeria 28 · Sept 2028 · 6.192%Nigeria 29 · Mar 2029 · 6.493%Nigeria 30 · Feb 2030 · 6.839%Nigeria 31 Jan · Jan 2031 · 7.177%Nigeria 31 Jun · Jun 2031 · 7.137%Nigeria 32 · Feb 2032 · 7.351%Nigeria 33 · Sept 2033 · 7.752%Nigeria 34 · Dec 2034 · 7.859%Nigeria 36 · Jan 2036 · 7.987%Nigeria 38 · Feb 2038 · 7.982%Nigeria 46 · Jan 2046 · 8.617%Nigeria 47 · Nov 2047 · 8.456%Nigeria 49 · Jan 2049 · 8.598%Nigeria 51 · Sept 2051 · 8.655%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Nigeria 27Nov 2027100.8135.712%
  • Nigeria 28Sept 202899.8756.192%
  • Nigeria 29Mar 2029104.1256.493%
  • Nigeria 30Feb 2030100.8756.839%
  • Nigeria 31 JanJan 2031105.6257.177%
  • Nigeria 31 JunJun 2031109.6257.137%
  • Nigeria 32Feb 2032102.2507.351%
  • Nigeria 33Sept 203398.0007.752%
  • Nigeria 34Dec 2034114.8757.859%
  • Nigeria 36Jan 2036104.1257.987%
  • Nigeria 38Feb 203897.8757.982%
  • Nigeria 46Jan 2046104.7508.617%
  • Nigeria 47Nov 204791.8758.456%
  • Nigeria 49Jan 2049106.3758.598%
  • Nigeria 51Sept 205195.8758.655%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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