WorldStage Newsonline-- The Federal Government has so far disbursed about N21.2 billion to the three major arms of the Nigeria’s Electricity Supply Industry (NESI); Generation Companies (DISCOs) Generation Companies (GENCOs) and the Transmission Company of Nigeria (TCN).
Minister of Power, Prof Chinedu Nebo who spoke at a power sector development forum organised in conjunction with German power firm, Siemens Tuesday at Abuja said, there was a release of a $100 million loan from the African Development bank (AfDB) to the Transmission Company of Nigeria (TCN) to fund critical transmission projects.
Besides, he noted that since he assumed office in February this year, there has been the disbursement of N5.2 billion special intervention fund to successor distribution and generation companies of the Power Holding Company of Nigeria (PHCN) for operation and maintenance services have been effected.
Nebo said that government had brought the power sector reform to normalcy despite the challenges he met upon his appointment .
On the PHCN workers severance payment, he revealed that the receipt of pay off by the staff would commence this week.
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