JUST IN: FG Approves N600bn For Electricity Market
The Federal Government has approved the sum of N600 billion for the country’s electricity market.
The Market Operator of the Transmission Company of Nigeria (TCN), Engr. Edmund Ejie disclosed this to reporters at the Market Operator’s Participants/Key Stakeholders 2019 3rd Quarter Interactive Forum in Abuja.
Ejie stated that the fund is already ripe for disbursement.
According to him, the intervention is for the payment of the shortfall in electricity invoices for the entire market. He noted that the intervention is not restricted to a single chain in the market but a wholistic one.
“The intervention is at a very advanced level. It has been signed by Mr. President, Muhammadu Buhari,” he said.