CBN To Channel Funds To Boost Power Supply

Central Bank of Nigeria, CBN, said its N213bn Nigeria Electricity Market Stabilisation Facility, NEMSF, would improve generation, distribution and transmission of power in the country.

Special Assistant to CBN Governor on Energy Sector, Mr. Yinka Balogun, said this in Abuja on Monday at a roundtable on “Releasing Private Sector Capital for Investment in the Power Sector”.

He said the intervention fund would ensure that the power sector delivered tangible improvement in power supply for the benefit of all Nigerians.

“CBN will disburse these funds in partnership with “deposit money banks” to address the shortfalls in revenue for operators to boost power supply and settle legacy gas debt.

“We believe that once the power sector issues are fixed, Nigeria will return to the path of sustainability at other sectors,” he said.

Read More: nationalmirroronline

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