The Governor of the Central Bank of Nigeria (CBN), Mr
Godwin Emefiele said N55.46 billion was disbursed to
24 power firms as electricity market stabilization facility.
Emefiele said this at the 4th tranche disbursement of the
facility in Lagos.

He said that three distribution companies got N8.67
billion, 14 generating companies and Nigerian
Independent Power Project (NIPP) had N35.83 billion,
Service Provider; N459.68million and six gas companies
got N10.49 billion.

He said that the disbursement was a major milestone in
the effort of the bank, in collaboration with the Federal
Government, to further address the challenges of the
sector.

According to him the disbursement will also feature the
signing of Power Purchase Agreement (PPA) by the
Nigerian Bulk Electricity Traders (NBET).

He added that the signing would signal activation of
industry contracts for power generation under a contract
based market.

The CBN boss said that there were new entrants into the
scheme.

Emefiele said that the new entries were the two
distribution companies in Benin and Jos.

He added that others included eight generating
companies that include two independent power projects
by Agip/Okpai and Shell and six NIPP plants at Alaoji,
Geregu, Ihovbor, Olorunsogo2, Omotosho2 and Sapele2.
“By the end of today, total disbursements to the Discos
will be N49.73 billion representing 91.7 per cent, Gencos
with N54.29 billion, representing 62.5per cent.

“Gas companies got N15.73 billion reprsenting 36.9 per
cent and service providers N0.46 billion representing 1.7
per cent.

“With today’s event, the total disbursements under the
initiative will be N120.2 billion, representing 57 per cent
of the total amount earmarked,” Emefiele added.
The Minister of Power, Housing and Works, Mr
Babatunde Fashola, said that the government was
committed to ensuring that power supply becomes
stable.

Fashola said that the government was committed to
addressing all the challenges that had been militating
against steady power and revenue collection.

He also said another challenge was the issue of over
dependence of the participants in the value- chain.
He urged every member in the value chain to contribute
to the success of the sector.

The minister said those vandalising the pipelines should
stop adding that the government had embarked on a
cleaning programme of the affected areas.

He urged consumers to also ensure that they pay for
their bills to allow power firms to generate more
revenues to ensure better service delivery.

He added that government planned to embark on the
construction of more hydro power plants.

Fashola said government would soon come up with a
framework that would boost the production of solar
energy, reduce cost and increase its usage.(NAN).

http://www.financialwatchngr.com/2016/05/21/cbn-disburses-n55-46b-to-24-power-firms/

All those thieves that bought phcn in zones what exactly have they invested in that sector cox all I've seen so far is increment in tariff every 2-3years, no meter, electricity generation still been funded by our money yet we are in perpetual darkness

if truelly this government is sincere, and want 24hrs light.every person should be licensed to provoke competition.