CBN Has Supported The Power Sector To The Tune Of ₦1.695tn
October 14, 2019
3:11 am
The financial support provided by the Central Bank of Nigeria (CBN) to Nigeria’s power sector is set to hit a total of ₦1.695 trillion, making it the single largest creditor to the sector, an analysis of a report obtained from the apex bank by Newsmen has disclosed.
We gathered from the CBN annual report for 2018, that as at the end of 2018, it had granted total credit of ₦1.095 trillion to the power sector under the three different schemes it set up.
The schemes included the Nigerian Electricity Market Stabilisation Facility (NEMSF), which was made to settle outstanding payment …
