The Central Bank of Nigeria has disbursed a sum of N114.74billion to 29 power firms under its Nigerian Electricity Market Stabilization Facility.
The amount is contained in the Financial Stability Report of the apex bank, which was obtained by newsmen in Abuja.
The report stated that while N114.7billion was provided to the power firms as loans, a total of N6.26billion had been repaid leaving an outstanding debt of N106.64billion.
According to reports, Some of the areas where the funds are to be invested are plant maintenance, upgrade LG transmission, distribution networks, acquisition of transformers and effective metering to consumers.
A breakdown of the disbursements showed that the sum of N49.62billion was provided to seven power distribution companies, while N49.06billion was given to 15 power generation companies.
No comments:
Post a Comment