By Noel ONOJAThe Central Bank of Nigeria (CBN) and other stakeholders in the financial services sector have begun brainstorming on a banking industry funding strategy for the power sector, which will grant the template a quasi-regulatory status.They are also expected to consider inputs from key non-bank stakeholders such as the Bureau of Public Enterprises (BPE), Nigerian National Petroleum Corporation (NNPC), Ministry of Power, Energy Commission of Nigeria (Encon), and the Nigerian Bulk Electricity Trading Company (NBET), among others, in drafting the strategy. This is to give the plan a higher level of general acceptance beyond the banking industry.The funding strategy would enable banks to provide well-structured finances to support investments in gas transmission pipelines, upstream gas developments, liquefied natural gas, LNG, and Liquefied petroleum gas, LPG plants. Others include gas processing facilities, key infrastructure, port, real estate, pipe milling and fabrication yards, and gas supply and gas transportation infrastructure, among others.
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