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Nigeria - The central bank of Nigeria has paid gas suppliers N6.9bn in a bid to ensure enough gas is supplied to power plants and ensure a stable power supply to Nigerians, Vanguard reports.
The Central Bank of Nigeria, CBN, yesterday paid gas suppliers the sum of N 6. 9 billion as part of its Nigerian Electricity Market Stabilisation Fund set aside to ensure a steady power supply to the Nigerian public.
The Governor of CBN, Mr. Godwin Emefiele, who handed cheques to seven companies in Abuja, said that the facility was a part payment for debts owed the gas suppliers by electricity Distribution Companies, Discos, across the country.
CBN had set aside N213 billion to help stabilize the electricity power sector by providing funds to operators in the sector to enable them make necessary investments as well as, clear debts that have been considered as inhibiting power supply to homes and businesses.
Mr. Emefiele disclosed that Discos were owing gas suppliers as much as, N40 billion as at the end of December 2014.
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The Central Bank of Nigeria, CBN, yesterday paid gas suppliers the sum of N 6. 9 billion as part of its Nigerian Electricity Market Stabilisation Fund set aside to ensure a steady power supply to the Nigerian public.
The Governor of CBN, Mr. Godwin Emefiele, who handed cheques to seven companies in Abuja, said that the facility was a part payment for debts owed the gas suppliers by electricity Distribution Companies, Discos, across the country.
CBN had set aside N213 billion to help stabilize the electricity power sector by providing funds to operators in the sector to enable them make necessary investments as well as, clear debts that have been considered as inhibiting power supply to homes and businesses.
Mr. Emefiele disclosed that Discos were owing gas suppliers as much as, N40 billion as at the end of December 2014.
click here to read more
