He specifically said the central bank had so far disbursed N120.2bn to players in the power sector.
Emefiele stated this in Lagos when the CBN disbursed the sum of N55.45bn to 24 companies operating in the electricity industry.
The CBN governor said the N55.45bn was the fourth disbursement made so far from the N213bn intervention fund.
Emefiele said, “It will feature the signing of the PPA activation agreement by the Nigerian Electricity Bulk Trader to signal activation of industry contracts for power generation under a contract-based market; and the disbursement of a further N55.456bn out of the N213bn to 24 industry participants.”
According to the CBN governor, the 24 beneficiaries of the fourth disbursement are three electricity distribution companies, 14 generation companies including the National Independent Power Project firms, one service provider, and six gas companies.
Giving the breakdown, he said the three Discos got N8.67bn; while the 14 Gencos received N34.83bn. The six gas companies received the sum of N10.49bn while one service provider got N459m.
“New entrants into the scheme are two distribution companies, namely: Benin and Jos; and eight generation companies that include two IPPs (Agip/Okpai and Shell) and six NIPP plants (Alaoji, Geregu, Ihovbor, Olorunsogo2, Omotosho2 and Sapele2.
“By the end of today, the total disbursements to the Discos will be N49.73bn (91.7 per cent); Gencos, N54.29bn (62.5 per cent); gas companies, N15.73bn (36.9 per cent); and service providers, N0.46bn (1.7 per cent).”
