The Central Bank of Nigeria (CBN) has confirmed the latest release of N3.01 billion under the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of electricity distribution companies (DisCos).
Godwin Emefiele, the CBN Governor, who made the disclosure today in Abuja, explained that the facility was aimed at improving the liquidity status of the DisCos and aiding their recovery of legacy debt.
The CBN has so far disbursed a total sum of N18.26 billion to the first batch of beneficiaries of the N213 billion NEMSF.
Emefiele reassured that the facility was a way of kick-starting the electricity market in order to ensure that the sector delivers tangible improvement in power supply for all Nigerians.
He explained that the CBN, in collaboration with the banking sector, offered to provide the facility to address recent shortfalls in power sector revenues caused by needed adjustments in the electricity tariff and legacy gas debts.
 has confirmed the latest release of N3.01 billion under the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of electricity distribution companies (DisCos).){kind=link}