Newsexpress place banner advert Yudala genuine products
CBN disburses N64.7bn power intervention fund

By News Express on 16/12/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 1,015


The Central Bank of Nigeria (CBN) says it has so far disbursed N64.7 billion of the N213 billion earmarked for power sector intervention.

The money was set aside in February to tackle the poor power supply in the country.

Mr Boma Benebo, Deputy Head, Infrastructure Development Finance Office, CBN, disclosed this after inspecting 62,021 prepaid meters procured by Kano Electricity Distribution Company (KEDCO) in Kano on Tuesday.

He said the facility was expected to be utilised to improve power generation and supply across the country.

“The facility is expected to be utilised for approved activities like turn around maintenance, to achieve capacity recovery by power stations.

“It is also to be used for purchase of meters, rehabilitation of transformers, procurement and construction of new distribution substations among others.”

He said the CBN-Nigerian Electricity Market Stabilisation Facility intervention had assisted in the restoration of 905 megawatts in the national grid following the turnaround maintenance carried out at some facilities.

According to him, the intervention has also enabled DISCOs to purchase 171,071 meters, rehabilitation of over 332 kilometres of 11KV lines and 130 kilometres of 0.45KV lines.

“These investments are expected to reduce losses and significantly improve electricity delivery to Nigerians.”

Earlier, the Managing Director of KEDCO, Dr Jamil Gwamna, represented by the company's Operating Officer, Mr Rahul Singh, said the organisation had received N7.6 billion from the CBN.

He said the money would be used to purchase meters and improve distribution networks.

He said the facility would enable the company to stabilise power supply in the three states it is serving – Kano, Katsina and Jigawa. (NAN).

•Photo shows CBN Gov. Emefiele.

Source News Express

Posted 15/12/2015 10:52:25 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Wike afraid of Senator Abe —Rivers APC •Dismisses...

Reforms in NPA, Customs already compromised, says Council...

Kano pilots to get jobs in world-famous Emirates...

12 days to 2013 South Africa Cup of...

Ikoyigate: Why Osibanjo’s probe panel should be disbanded...

The Message from Donald Trump

Fani-Kayode replies Oba of Lagos, says death threat...

Peterside condemns Amachree’s murder, describes Rivers State as...

Libya’s UN-backed government defies threats by rival factions,...

BREAKING: Irate workers shut down NNPC operations nationwide...

Sunny, hazy conditions to persist today in the...

UK-based Nigerian security expert backs Buhari to finish...

 

Latest News Niger Delta youths vow to resist takeover of Port Harcourt, Warri refineries How a trusted pastor defrauded me of N918m —Titi Atiku ‘Perfect Fraudster’ falls into RRS net Chibok girls: ‘God’s wrath on APC imminent’ Magu vows to sustain war against corruption Amaechi attacks Wike for linking him to cultism, says Nigerians sick and tired of his theatrics Wealth creation seminar for mothers begins today in Lagos Makarfi’s PDP faction as the real terror group, By Richard Murphy UBA introduces world class Mobile Banking App Okowa celebrates Edwin Clark at 90, condoles Channels TV on Chukwuma Onuekwusi’s death Zinox slams N2bn defamation suit on Premium Times Weatherman predicts cloudy weather, thunderstorms and chances of rain showers today

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (246,019 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (222,615 views) Shameless Genevieve Nnaji exposes breasts in public (184,446 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (165,229 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (158,116 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (138,167 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (120,658 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (118,100 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (106,071 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (102,523 views) Lagos plane crash: Journalist releases victims’ names (101,192 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (95,439 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,560) Business Verdict (16) Columnists (681) Complaints & Requests (89) Enterprise & Opportunities (151) Entertainment (320) Features (443) Global Business Monitor (151) International (1,375) Interviews (121) Live Commentary (28) Love Matters (54) News (24,645) Opinion (717) Pidgin (8) Politics (3,697) Religion (532) Sports (1,263) Stock Watch (18) AMA & Al Jazeera Global Update

 

Words on marble

 

UBA Wise Savers Promo

 

There is no water shortage in the State of Osun

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!