Three years after the Central Bank of Nigeria launched the N210 billion Electricity Market Stabilisation Fund, two power firms – Kaduna and Yola electricity Distribution Companies are yet to meet requirements to access N51bn of the facility since 2015 when the disbursement began.
A CBN report on the disbursement for this month obtained by Daily Trust showed that about 47 other power firms who benefited from the fund have repaid N19.3bn. The NEMSF was meant to revive the ailing power sector with a N210bn market shortfall as at December 2014, the document revealed.
Despite the facility repayment by other firms, CBN said it is yet to disburse 25 per cent of the fund, about N51bn to the two DisCos citing their inability to fully sign-on to the facility.
Source: Daily Trust