Contrary to claims that the Federal Government has been starving parastatals of funds, Minister of Power, Prof. Chinedu Nebo, says about N21.2 billion has so far been disbursed to the three segments of Nigeria’s Electricity Supply Industry – 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 a 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 in February.
Nebo also said the Federal Government would soon establish the National Council on Power, whose primary responsibility would be to strengthen the rural electrification programme.
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