The launch of Energising Economies Initiative (EEP), by FG returning confidence in the sector and in particular among micro, small, medium enterprise (MSMEs) operators.
REA by its mandate is charged with assisting private sector developers implement sustainable off grid power solutions for economic clusters across the country.
CBN Disburses N38bn To Power Firms In Six Months – Punch
According to a new report by CBN, it has released a total of N38.53bn to power firms between January and June this year under the Nigeria Electricity Market Stabilisation Facility. The facility was set up by the CBN in 2015 to provide liquidity for the Nigerian electricity supply industry and put it on the path to economic viability and sustainability.
Specifically, the NEMSF is targeted at facilitating the settlement of shortfall in revenue and legacy gas debt obligations, due to market participants.
The market participants are gas companies, GenCos, TCN, and DisCos, as well as service providers. The CBN in the economic report said that the N38.53bn was disbursed to one distribution company, 17 generation companies, six gas companies and five service providers.
It said cumulatively, as of the end of June this year, about N158.74bn had been disbursed to the Nigeria Electricity Supply Industry Stabilisation Strategy Limited to refinance 37 eligible electricity market participants.