Nebo: N21.2bn Disbursed to TCN, Gencos, Discos

 

Minister of Power, Prof. Chinedu Nebo

• PHCN workers to get severance pay this week

By Chineme Okafor

Minister of Power, Prof. Chinedu Nebo, Tuesday disclosed that about N21.2 billion had so far been disbursed to the three segments of Nigeria’s Electricity Supply Industry (NESI); generation, transmission and distribution under his watch.

According to him, the release of a $100 million loan from the African Development bank (AfDB) to the Transmission Company of Nigeria (TCN) to fund critical transmission projects as well as 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 since he assumed office as in February.

While explaining some of the challenges he met upon his appointment as well as efforts of the government to overcome them, the minister stated at a power sector development forum organised in conjunction with German power firm, Siemens, in Abuja that the government had steadily got its power sector reforms back on track.

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