The Central Bank of Nigeria (CBN) may resume disbursement of N213 billion power intervention funds next month, following the planned implementation of the new electricity tariff regime slated for take-off on February 1, The Nation reports.
Industry sources have indicated that the CBN will resume the disbursement in February because of the new tariff regime, which is expected to boost the income of the distribution companies and consequently that of the generation companies.
The power sector had a shortfall of about N290billion between November 2013 and December 2014. The CBN loan facility was meant to address the N290billion shortfall, which has risen to about N 478 billion as at end of October 2015. The CBN also plans to create a fresh intervention fund for the transmission company when it is through with the generation and distribution companies’ matter.
Source: Energy Mix Report.
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