The Central Bank of Nigeria (CBN) says it has disbursed over N1.3 trillion to support the provision power supply to Nigerians in the last five years.
The CBN Governor, Mr Godwin Emefiele, made the remark at a news conference following a meeting of the Bankers Committee in Abuja on Monday.
“So, what we are trying to say here is that the CBN has always been there to support the power sector.
‘’Like you all know, we have disbursed over N1.3 trillion in the last five years to support through the Generators or Discos or to acquire equipment or to buy meters or to improve what is being paid to electricity generating companies;
‘’So that they can continue to pay for their gas and then the system can continue to operate.’’
‘’The sum of N12.64 billion was also released to Discos under Nigeria electricity market stabilisation facility phase two line two.
“Community disbursement under names two, first stand at N232.93 billion.
“Both interventions were designed to improve access to capital and ease development of enabling infrastructure in the Nigeria electricity supply chain sector,’’ he added.
Emefiele, however, pledged the apex bank’s commitment to continue to support Distribution Companies (DISCOs) to provide stable power supply to Nigerians.
He said that the apex bank would be engaging with the Power Minister and NERC to see what could be done to support them.