The Federal Government said on Friday that it had
approved N213bn facility to rescue private
electricity companies.
Minister of Petroleum Resources, Diezani Alison-
Madueke, said this while speaking with State
House correspondents at the Presidential Villa in
Abuja.
She briefed journalists on ‘Electricity market
stabilisation facility and the bankability of the
power sector’.
“The CBN, in collaboration with the Deposit Money
Banks, will provide a total facility of N213bn to
settle both the legacy gas debts as announced on
August 2 and also the shortfall in revenues to the
sector since the handover of PHCN companies on
November 1, 2013,” she said.
According to her, N36bn would be tied to
commitments to supply specific volumes of gas-
for-power and to negotiate and execute bankable
gas supply agreements with power plants.
She also said there would be a new electricity
tariff to reflect the new developments.
The minister said, “NERC (the National Electricity
Regulatory Commission) will publish a reset tariff
order (MYTO 2.1). This tariff order will take into
account the CBN provided facility, current levels of
energy output, the new baseline gas price and
other variables that more closely reflect the true
cost of running electricity businesses.”
She said the electricity market, mainly consisting
of private operators, would repay the facility with a
first-line charge on their revenues over a 10-year
period.
She added that there would be a moratorium on
repayment of the credit facility by the distribution
companies until electricity supply improved
across the country.
She said this would ensure that the cost of
electricity for ordinary consumers continued to be
affordable.
The minister added, “The CBN will, on a case-by
case basis, be working with the Deposit Money
Banks on some of the prudential guidelines
associated with acquisition loans for electricity
assets through extended restructure of the debts
repayment during the moratorium period.
“This will only apply where it is clear that strains
on loans are a direct result of recent, unforseen
adjustments in the policies that guide the
electricity market.
“The credit facility will be disbursed via
commercial banks and a special purpose vehicle,
which will be managed by a dedicated fund
manager. This structure will ensure that the funds
are repaid in full, within the time frame of the reset
tariff order.”
With her at the briefing were the Minister of Power,
Chinedu Nebo; Governor of Central Bank of
Nigeria, Godwin Emefuele, and Chairman, Nigerian
Electricity Regulatory Commission, Sam Amadi.



www.punchng.com/news/fg-bails-out-private-power-firms-with-n213bn/

Congratulations to Nigeria. PDP POWER!!! POWER TO THE CABALS PDP!!!

Deceiving Nigeria since the end of timez.

Yawns. They won't stop approving!

K, APC guns. Over to you.




But shoot if u wanna shoot don't talk

Circuit wE 32 of Jehovah's Witnesses
invites you to the Regional Convention.
Theme "Keep Seeking First God's
Kingdom" On September 19-21 at
Daluwon i.e Mowe- Ofada express road,
Ogun state Nigeria. Program begins
8:20am Daily...

Another opportunity for money to get siphoned has come again.

Hope it will workout this time arround,
Cos any news about electricity in this country is rather a national disgrace,

But the politicians still see it as an achievement by just announcing their electricity plans nd targets.

All I want is constant electricity. Untill then, fukc off.

I'll hope the fund is really appropriated for the apporoved!!!

Na today?

Shakes head, Obj gave more than this for power, yet what do we have?

Hmm, new tariffs, this ain't good news at all? Though the money covers it so consumers can continue to pay the normal charges? But I foresee removal of subsidy n the price skyrocketing as in d case of fuel. One thing is very certain in this government, nothing is free or affordable anymore.

Nigerians beware!

PDP = Band Wagon of Liars and Thieves

Here we go again. Sometimes one wonders if things will ever change. #wearewatching

kel4soft: Congratulations to Nigeria. PDP POWER!!! POWER TO THE CABALS PDP!!!

Deceiving Nigeria since the end of timez.

you are too greedy,pls try to change,stop eating thank u,with dont mention same time

Election is drawing closer. If we no see light, den No Vote for GEJ come 2015. Apc who is your Presidential candidate? Lets start looking at the other option

Story for the gods

The money will still go down the drain,intervention my foot,power stability by october#wicked Lie#,We'v heard that numerous timesssss

Same old path that leads to nowhere!

Another way of looting d POOR MASSES.... Bt who cares as lng as there will be election next year!!

I've been hearing this since 1955

today fund for this...tomorrow fund for that...
afterall we cant see the impact done
smh....

Too bad

when will Nigeria wake up?

Approving monies everyday without any remarkable improvement, we as a nation have got a lot of abundant resources to generate electricity but seemingly we are cursed in the way of petroleum, everything now is Gas powered ,
no one is looking at long term per se,

what about renewable energy which we all know is till eternity.

i have see a gas well loose over 50% of its production capacity in less than 2 years, what if somethin like this happens to wells supplying gas to our gas-fired power stations?, we would be plunged into darkness ehn?

it is well

Hehehe,i dey laugh at hw dis money wil be shared and chopped.

This woman better go and settle her case with NNPC staff first on their pension money. Make e no be say na pple pension money ds woman dey donate ooo.

She should remember that daris God oooo

We know as e dey go.. Story Story. Make una continue.
Based on past events, funds approval and promises, i know that PHCN/NEPA/PDP/APC or whatever organisation responsible for providing the citizens of Nigeria steady/constant electricity will always tell stories even if they approve 100billion dollars for power generation.

May God help us

Still watching from my Temple.

kel4soft:


The Federal Government said on Friday that it had
approved N213bn facility to rescue private
electricity companies

She also said there would be a new electricity
tariff to reflect the new developments

“The credit facility will be disbursed via
commercial banks and a special purpose vehicle,
which will be managed by a dedicated fund
manager. This structure will ensure that the funds
are repaid in full, within the time frame of the reset
tariff order.”

www.punchng.com/news/fg-bails-out-private-power-firms-with-n213bn/

If this is not a scam,i dont know what to call it......what is it with FG trying to bail out or rescue already privatised companies?

If they had no capacity to run the bought GENCOs and DISCOs,why did clueless Jonathan sold to them in the first place.....despite the fact that some of the companies could not even meet up with the deadline for payment in the initial instance

Now did i just read about a new Tarriff regime as an effect of the loan to be given?

That implies that Nigerians should expect to pay more than they are already paying.......yet some people will still vote this man come 2015

kel4soft: Congratulations to Nigeria. PDP POWER!!! POWER TO THE CABALS PDP!!!

Deceiving Nigeria since the end of timez.

Instead of saying they have approved PDP money for 2015 elections.Mtchew.