Energy giant Geregu Power Plc successfully settled its outstanding bond obligations in full, reaffirming investor confidence in its financial stability. The company confirmed that payment of its outstanding bond obligations was effected in full on August 19, 2026.
Chairman Senator Abdul’aziz Abubakar Yari personally provided the funds required to settle the company’s outstanding bond obligation, following a recent default on a scheduled coupon and principal repayment. The company paid approximately ₦6 billion owed to investors on its ₦40.09 billion Series 1 Senior Unsecured Bond.
“Our Board is fully committed to meeting Geregu’s financial obligations to its bondholders and trustees,” Yari said. The company is working to resolve legacy administrative matters that predate the current Board. Geregu Power reaffirmed its commitment to supporting the transformation of Nigeria’s power sector under the Federal Government’s Renewed Hope Agenda.
The winners: bondholders and investors, who have received their payments; and Geregu Power, which has restored investor confidence. The losers: the company’s critics, who questioned its financial stability; and the Nigerian power sector, which still faces significant challenges.
Bottom Line: Geregu has cleared its bond obligations. Investor confidence is restored. The question is whether the company can sustain its financial performance.