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Nigerian Power Firms Reject Government’s Offer to Forfeit Half of ₦5trn Debt
Power generation companies (GenCos) in Nigeria have rejected the Federal Government’s offer to pay only 50% of the N5 trillion debt owed to them. The government wants them to take a “50% haircut”, meaning they must forfeit half of the money permanently.   The FG planned to pay N2.4 trillion and cancel the rest, using a new bond program. But the GenCos say: • The...
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