By Adedapo Adesanya

The federal government has begun the process of repaying the N4 trillion debt owed to Power Generation Companies (GenCos) with the launch of a N590 billion first-tranche bond issuance.

The initial tranche, part of  the wider N4 trillion Nigerian Bulk Electricity Trading (NBET) Finance Company Plc Bond Programme, comprises N300 billion in cash bonds to be issued to the market and N290 billion in non-cash bonds to be directly allotted to GenCos on identical terms.

The bond term sheet revealed that the Series 1 bond will be issued between November and December 2025 with CardinalStone Partners Limited serving as the lead issuing house and financial adviser.

The seven-year bond has a coupon range of 16.25 per cent to 16.75 per cent and carries a full sovereign guarantee and will be listed on both the Nigerian Exchange Limited and FMDQ Securities Exchange, making it eligible for investment by pension fund administrators, banks, asset managers, insurers and high-net-worth investors.

According to the term sheet, “Series 1 Tranche A involves N300bn issued to the market for cash, while N290bn under Tranche B is allotted to the GenCos on identical terms. The bond will be issued between November and December, with a seven-year tenor on a fixed-rate coupon, redeemed on an amortising basis and paid semi-annually in arrears.”

The bond issuance marks a major step by President Bola Tinubu’s administration to resolve what experts describe as one of the most crippling financial crises in Nigeria’s power sector. The Series 1 bond carries a seven-year tenor, a fixed coupon rate, and semi-annual interest payments, and will be amortised over its lifespan.

The issuer also retains the discretion to absorb oversubscription of up to N1.23tn, creating room for additional non-cash bond allocations to GenCos if required.

The term sheet added, “Pricing will be based on the yield of the seven-year FGN bond plus a spread, and the issuance will be conducted through a book-build process. The minimum subscription is N5m, representing 5,000 units at N1,000 each, with additional subscriptions in multiples of N1,000.

“Proceeds from the issuance will be used to settle outstanding liabilities owed to GenCos. The instrument is guaranteed by the full faith and credit of the Federal Government, enjoys CBN liquidity status, meets PenCom compliance requirements, qualifies under the Trustee Investment Act, and will be listed on both the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange.”

It further noted that “oversubscription may be absorbed at the discretion of the issuer up to a maximum of N1,230,000,000,000 approved for Phase 1 of this transaction. The issuer reserves the right to increase the size of the non-cash bonds to be issued to the GenCos under any Series or accommodate additional allotments as may be required.”

By Adedapo Adesanya

Data sourced from the latest Fact Sheet released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that daily petrol consumption in Nigeria dropped by 6.8 per cent to an average of 52.9 million litres in November 2025.

The November figure marked a decline from the 56.74 million litres per day recorded in October 2025.

Of the total petrol consumed last month, 19.5 million litres per day were supplied by local refineries, higher than the 17.08 million litres per day recorded a month earlier.

A major driver of this increase was the Dangote Refinery, supplying an average of 23.52 million litres per day, up from 18.03 million litres daily in the previous month.

The Fact Sheet showed that imports accounted for 52.1 million litres per day of total consumption, showing an increase from 27.6 million litres per day in October.

The NMDPRA described Dangote’s current output as a significant milestone in reducing Nigeria’s reliance on imported fuel.

In contrast, the NNPC-operated Port Harcourt, Warri, and Kaduna refineries recorded zero petrol output during the period, and all three facilities remained in various states of rehabilitation or shutdown.

According to the regulator, the surge in imports was triggered by low supply levels in September and October 2025, which fell short of national demand, the need to shore up national stock ahead of end-of-year peak consumption, NNPC’s importation efforts to rebuild inventory and ensure supply security, and delayed offloading of 12 vessels initially scheduled for October but discharged in November.

October 2025 recorded the highest consumption within the one-year review period, followed by November 2024 (56 million litres) and April 2025 (55.2 million litres), the report noted.

The data showed that Nigerians also consumed an average of 15.4 million litres/day of diesel daily in November, alongside 2.5 million litres/day of aviation fuel and 3,992 million litres/day of cooking gas.

Online betting has changed with the rise of digital currencies, giving players new ways to manage deposits and payouts. Bitcoin and Ethereum stand out as the leading crypto options, while traditional fiat money remains a familiar choice. The best option depends on personal priorities: Bitcoin for simplicity and stability, Ethereum for flexibility and faster transactions, and fiat for convenience and predictability.

Each method serves a different purpose. Bitcoin offers a sense of security backed by years of adoption, Ethereum supports smart contracts that make transactions faster, and fiat money appeals to those who prefer standard banking systems. Choosing between them depends on individual comfort with technology, desired transaction speed, and tolerance for value changes.

Understanding these differences helps bettors make smarter, safer choices. Those who compare security, speed, and ease of access before placing bets can move forward with confidence. The next sections explain what sets these currencies apart and how to select the ideal one for any betting goal.

Key Differences Between Bitcoin, Ethereum, and Fiat Currency

Bitcoin and Ethereum work on decentralized networks, while fiat money depends on centralized control through banks and governments. They also differ in processing time, cost, and price behavior. These differences affect how players handle deposits, withdrawals, and bet sizing for online gambling platforms.

Control and Decentralization

Bitcoin and Ethereum both rely on decentralized blockchain systems. No government or single entity controls them, which means users manage their funds directly through digital wallets. This independence reduces the need for third-party approval, giving bettors faster access to their winnings.

Fiat currencies like the dollar or euro operate under national banking systems. Transactions run through intermediaries that can impose limits, fees, or delays. In contrast, decentralized assets allow players to move money freely across borders without such barriers.

Decentralization also influences transparency. Crypto transactions are recorded on public ledgers, allowing verification without revealing private identities. For users of a crypto casino with fiat payment options, this setup provides both modern digital flexibility and the familiar structure of government-backed cash.

Transaction Processing and Speed

Bitcoin processes an average of seven transactions per second, while Ethereum handles more through its advanced design. However, both face network congestion during heavy use, which can slow transaction times or increase fees. Ethereum aims to address this through upgrades that use proof-of-stake mechanisms to improve speed and efficiency.

Fiat transfers rely on centralized banking networks and payment processors. Bank wires or card payments may take hours or even days, especially across countries. Crypto transactions can be completed within minutes, making them appealing for users who prefer instant deposits or payouts on gaming sites.

The difference in transaction speed can determine convenience. A player who wants quick access to winnings may prefer digital currency. Someone who values predictability might choose fiat, even if it takes longer to process.

Price Stability and Volatility

Fiat currency prices remain relatively stable because central banks manage their value through regulation and monetary policy. This makes fiat suitable for users who prefer steady account balances, especially for budgeting gambling limits.

Bitcoin and Ethereum, on the other hand, experience price swings. Their value can shift within a day due to market trends, investor demand, or global events. Volatility creates both risk and opportunity, depending on how much the user can tolerate short-term changes.

Some players convert crypto profits to fiat quickly to avoid potential losses. Others keep their balance in digital form to benefit from possible gains. Each approach offers trade-offs, but understanding price behavior helps players manage both winnings and deposits effectively.

How to Choose the Best Payment Method for Your Online Bets

The best payment method for online betting depends on how much flexibility, privacy, and transaction speed a user needs. Each method, either crypto or fiat, offers specific strengths in cost, liquidity, and accessibility that matter for different betting profiles. Choosing well affects everything from deposit timing to withdrawal limits and exchange risks.

Use Cases and User Profiles

Each user approaches online betting differently, so the right payment method depends on individual goals and habits. Bitcoin attracts users who want privacy and independence from banks. It offers fast transfers and low fees for deposits and withdrawals. However, its price can change quickly, which might affect balance stability.

Ethereum suits bettors interested in decentralized finance (DeFi). Thanks to smart contracts and automated market makers (AMMs), users can link wallets to liquidity pools without intermediaries. This flexibility supports advanced users who trade in digital assets or hold altcoins. Still, higher network fees may discourage small deposits.

Fiat currencies, such as USD or EUR, appeal to users who prefer traditional regulation and consistent value. Bank transfers and debit cards often include buyer protection and wider acceptance. However, they can involve longer processing times or extra verification steps.

Platform Support and Liquidity

Payment compatibility varies by betting platform. Some sites readily support cryptocurrency markets, while others stay focused on fiat transfers. Bitcoin and Ethereum both offer strong global liquidity, which means users can fund or cash out faster in most regions. Many exchanges and wallets connect directly to betting sites for easier movement of funds.

Fiat still holds an advantage on platforms that link to local banks or prepaid systems. Users who deposit in fiat avoid exchange-rate concerns, though payout times may run slower. On crypto-focused sites, liquidity pools and AMMs supply quick access to BTC or ETH funds. This structure allows players to move assets between wallets and betting accounts with minimal friction.

Security also influences choice. Crypto wallets rely on private keys; fiat systems depend on card encryption and bank-level protection. Each user must balance convenience with personal control over funds.

Future Trends in Online Betting Payments

The payment landscape continues to evolve toward greater decentralization and cross-asset compatibility. Betting sites now explore integration with DeFi tools, letting users stake funds or trade within pools. Technologies built on Solana and similar blockchains promise faster confirmations and lower fees than older networks.

Interest in Bitcoin ETFs also affects bettors who prefer indirect exposure to crypto without holding coins directly. This trend could lead to more fiat-based betting platforms that interact with crypto markets behind the scenes.

Developers aim to connect traditional and blockchain systems so users can deposit in one currency and withdraw in another. Over time, a mix of stablecoins, fiat channels, and direct crypto access is likely to become standard, giving bettors more consistent control and faster financial movement across platforms.

Conclusion

Each payment type, either Bitcoin, Ethereum, or fiat, serves different needs in online betting. Bitcoin offers strong security and wide acceptance across many platforms. Its slower speeds and higher fees, however, can limit appeal for frequent or small wagers.

Ethereum provides faster transfers and supports smart contracts, which allow peer-to-peer bets without middlemen. This feature creates a more direct and transparent experience, but network congestion and fluctuating gas fees can still affect performance.

Fiat currency remains familiar and easy to use. It fits users who prefer traditional systems backed by banks and who value price stability over decentralization.

Therefore, players should match their payment choice with their goals. Those seeking trust and history may prefer Bitcoin, while speed and innovation point toward Ethereum. Conservative users who favor regulated systems might stay with fiat money.