Connect with our Partners, Adegbite Adeniji and Jumoke Fajemirokun at the largest mining event in Africa – Investing in African Mining Indaba 2026 holding in Cape Town from 9 -12 February, 2026.

ENR Advisory is pleased to have acted as Solicitor to the Issuer on the FGN’s ₦4 Trillion Presidential Power Sector Financial Reforms Programme (“PPSFRP”).
The PPSFRP is a ~₦4 trillion Federal Government of Nigeria (“FGN”) led financial intervention programme targeted at resolving legacy debts owed to Power Generation Companies (“GenCos”) by Nigerian Bulk Electricity Trading Plc (“NBET”) for electricity supplied between February 2015 to March 2025, the result of which will also inject liquidity into the Nigerian Electricity Supply Industry (“NESI”).
The Programme is being executed through NBET Finance Company Plc, a Special Purpose Vehicle established to raise funds for settlement of verified debts owed to GenCos, through the issuance of FGN backed bonds in multiple series, with Series 1 successfully closed at ~₦501 billion. 
This strategic intervention, which is the first-of-its-kind in its structure, innovation and impact represents a strategic reset, rather than a bailout, for the NESI. The programme which we had the privilege of co-creating alongside other advisers was carefully structured to protect all stakeholders across the electricity value chain, while also creating a pathway to a more sustainable and liquid power sector.
We are pleased to have worked alongside CardinalStone, Africa Finance Corporation and other professional advisers on this complex but critical programme. We also extend our appreciation and congratulations to the Office of the Special Adviser to the President on Energy Olu Arowolo Verheijen, Nigerian Bulk Electricity Trading Plc, the Ministry of Finance, Ministry of Power, Nigerian Electricity Regulatory Commission (NERC) and other key government stakeholders within the NESI who were instrumental to the successful execution of this programme.

ENR Advisory remains firmly committed to advancing innovative legal and commercial frameworks that strengthen economic resilience and promote long-term market stability in Nigeria’s energy sector.

The ENR Advisory team on the transaction was led by Partner, Pacer Guobadia and Senior Associate, Rasheed Belo-Osagie with support from Associates, Aimuaosa Enadeghe, Rejoice Awodiran, Emmanuel Ademu-Eteh, AcArb, AICMC and Fortune Chiziterem Ude, ACArb.

We are pleased to announce that our Lawyers have been recognized by IFLR1000 Leading Lawyers Rankings, 2025 edition.

Connect with our Partner, Pacer Guobadia at Invest In African Energy Forum holding in Les Salons Hoche, Paris, France, from 13-14 May, 2025.

ENR Advisory is pleased to have advised the NNPCL-FIRST E&P Joint Venture on the Gas Sale and Purchase Agreement signed with the Nigeria LNG Limited (NLNG) for the supply of gas to NLNG’s plant at Bonny, Rivers State. This is a landmark transaction as it is one of the first sets of gas supply arrangements to NLNG from non-shareholder suppliers.

Click this link to read more about this deal.