Babatunde Fashola, Nigeria’s minister of power, works, and Housing, announced Monday, Nov. 13 that the country’s central government has recovered 64.6 million dollars electricity debt from its international customers.

The announcement was made at the 21st monthly power sector meeting in Asaba, Delta state, according to News Agency of Nigeria (NAN) in Abuja, revealing that the money recovered was from Benin and Niger Republics.

He said that Nigerian Bulk Electricity Trader (NBET) would work out modalities for distribution of the fund to the value chain operators.

The minister also announced that Rural Electrification Agency (REA) had completed guidelines for the operation of the rural electrification fund.

He said that the fund would help vulnerable groups and communities to gain access to funding to support their electricity development programme.

“By way of explanation, the rural electrification fund was created by section 88 of the Electric Power Sector Reform Act (EPSRA) of 2005 to promote support and provide rural electrification access.

Read more here http://www.businessamlive.com/nigerias-government-recovers-64-6m-electricity-debt-neighbouring-benin-niger-republics/

Rubbish

Great