The Central Bank of Nige­ria (CBN) has disbursed N18.26 billion to the first batch of ben­eficiaries of the N213 billion Nigeria Electricity Market Sta­bilisation Facility (NEMSF).

This comprises two electric­ity Distribution Companies (DISCOs) and three electricity Generation Companies (GEN­COs).
In his welcome remarks at the ceremony held at the Bank’s head office in Abuja, on Monday, the CBN Governor, Mr. Godwin Emefiele, reiterated that the N 213 billion Nigeria Electricity Market Stabilisa­tion Facility (NEMSF) was a way of kick-starting the elec­tricity market in order to en­sure that the sector delivered tangible improvement in power supply to 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.

While congratulating the first batch of beneficiaries, which, he said, had met the conditions precedent to dis­bursement, Emefiele urged the beneficiaries to ensure that the funds were repaid as and when due. He stressed the need for them to ensure that all inputs into the generation of power were in a consistent man­ner.

He equally charged them to invest the funds in the neces­sary improvements in gen­eration plant maintenance, transmission upgrades and dis­tribution networks including transformers and better meter­ing for end consumers.
Furthermore, he urged other Distribution and Generation Companies to take a cue from the first batch of beneficiaries so as to receive their respective tranches of the facility as soon as possible.

Prof. Chinedu Nebo com­mended the CBN Governor for the key role he played in ensur­ing the success of the inter-min­isterial/agency collaboration, which involved the Ministry of Petroleum Resources, Ministry of Power, the Nigerian Elec­tricity Regulatory Commission (NERC) and the Bureau of Pub­lic Enterprises (BPE).


http://dailytimes.com.ng/article/electricity-stabilisation-fund-cbn-disburses-n18bn-beneficiaries

Nigeria is in shambles, the same DISCOs and GENCOs who donated about N5billion to the PDP Presidential campaign now need Intervention fund to do their business.

were we not told they have privatize the Power Sector? Nigerians are paying N750 maintenance fee very month whether power was given or not. Multiply N750 by approximately 100million households in the country.

Power generation have dropped from 4000Megawatts in 2014 to 2500Megawatts as at January 2015, and money is still flying left , right and centre.

Nigeria is indeed a babana republic, can't wait for the CHANGE

Facist government.
Handing tax payers money to individuals.
Enough money to add 1000 mw to the grid

pendy79:
Nigeria is in shambles

Noo sir!! Ur LIFE IS IN SHAMBLES!!!!

shikaan:

Noo sir!! Ur LIFE IS IN SHAMBLES!!!!

if only your fada heeded all advise of the village dibia to use you for the Money Making rituals instead of your mother, you wont be here to show the madness and curse inherent in your lineage.

Why giving tax payer money to private companies? Similar thing happened last year when 18 Billion naira was paid to the same people. They must refund the money when GMB comes in.

After selling the GENCOs and DISCOs to Government cronies and acolytes,Jonathan still goes ahead to give them financial succour


Then i ask under what pretext or premise were the companies sold to these guys in the first place......is it not for them to use their expertise and financial wizardry to turn around the fortunes of the companies ni?


Nigeria is really bleeding under Jonathan

After selling the companies/assets for next to nothing, they are dashing them money too

Looks like dashing some ppl free money, GEJ on a mission to bankrupt this country we can CHANGE this on FEBUHARI 14. Vote wisely Vote APC.
Sai Buhari.

sincerenigerian:
Why giving tax payer money to private companies? Similar thing happened last year when 18 Billion naira was paid to the same people. They must refund the money when GMB comes in.

Money laundering, nothing more

beopened:
After selling the GENCOs and DISCOs to Government cronies and acolytes,Jonathan still goes ahead to give them financial succour


Then i ask under what pretext or premise were the companies sold to these guys in the first place......is it not for them to use their expertise and financial wizardry to turn around the fortunes of the companies ni?


Nigeria is really bleeding under Jonathan

Nigeria is bleeding financially under Jonathan.

By the way, I saw one their cheerleaders (Rossikky) watching this thread but ran away.

Obiagelli:
After selling the companies/assets for next to nothing, they are dashing them money too

Because they are all crooks. Looting Nigeria is the only thing GEJ and his minions know how to do very well. There is no hope in hell that Nigeria's major woes can ever be resolved under this ultra-corrupt and highly unprincipled President. This is why Nigerians cannot wait for Febuhari 14 to take their nation back from the viciously corrupt gang GEJ is leading.

Gbawe:


Because they are all crooks. Looting Nigeria is the only thing all GEJ and his minions know how to do very well. There is no hope in hell that Nigeria's major woes can ever be resolved under this ultra-corrupt and highly unprincipled President. This is why Nigerians cannot wait for Febuhari 14 to take their nation back from the viciously corrupt gang GEJ is leading.

Well said sir. We need to liberate our country and survival from these criminals in a few days.

pendy79:
Nigeria is in shambles, the same DISCOs and GENCOs who donated about N5billion to the PDP Presidential campaign now need Intervention fund to do their business.

were we not told they have privatize the Power Sector? Nigerians are paying N750 maintenance fee very month whether power was given or not. Multiply N750 by approximately 100million households in the country.

Power generation have dropped from 4000Megawatts in 2014 to 2500Megawatts as at January 2015, and money is still flying left , right and centre.

Nigeria is indeed a babana republic, can't wait for the CHANGE

Jonathan is working my brother vote for failure cluelessness to carry on we in it together brove.

Obiagelli:

Well said sir. We need to liberate our country and survival from these criminals in a few days.

I agree with you too. Somebody here thinks because he has been paid he is going to enjoy the money, no !!!!!! We are in this s****t as together. That money and sentiment might leave you behind. Ask general adisa in the grave.

Gbawe:
Because they are all crooks. Looting Nigeria is the only thing all GEJ and his minions know how to do very well. There is no hope in hell that Nigeria's major woes can ever be resolved under this ultra-corrupt and highly unprincipled President. This is why Nigerians cannot wait for Febuhari 14 to take their nation back from the viciously corrupt gang GEJ is leading.

George W. Bush and Barack Hussein Obama must both be crooks and looting the US must be the only thing they know how to do very well, innit

U.S. Declares Bank and Auto Bailouts Over, and Profitable

Six years after President George W. Bush began the auto bailout, the Obama administration on Friday declared a profitable end to the sweeping federal interventions in Wall Street and Detroit, saying a final sale of stock from General Motors’ former finance arm had closed a turbulent chapter of the financial crisis.

The programs “that helped restart the flow of credit to meet the critical needs of small businesses and consumers are now closed,” declared Treasury Secretary Jacob J. Lew. “And while the goal was always to stabilize the economy, and not to make a profit, it is important to recognize the return we have earned for taxpayers.”

The government actions, initially seen as necessary in Washington and on Wall Street to prevent a collapse of the economy on the order of the Great Depression, agitated the political world, helping give rise to the Tea Party movement on the right and the Occupy Wall Street movement on the left. And even as the nation climbed out of recession and slowly recovered, many Americans were left with little trust in the nation’s government and financial institutions.

More from: http://www.nytimes.com/2014/12/20/business/us-signals-end-of-bailouts-of-automakers-and-wall-street.html?_r=0

As always when there is need for concrete, long-term action for sustainable growth, development and recovery the naysayers and detractors will also make a lot of useless noise.

They would rather prefer the dash dash economic formula of their egg-headed professors advising the daft & dumb old pensioner to give N5,000 to 25 million unemployed people, which totals N1.5 trillion yearly i.e. 1/3rd of our 2014 budget.


[img]http://4.bp..com/-ahop7_s7ZAo/UCOvB3fD8XI/AAAAAAAAADM/QPLqWth0Q-I/s1600/almajiri_3.jpg[/img]



Obviously no thought of focusing on provision of infrastructures, facilities, utilities and the accompanying economic policies to create an enabling environment and encourage private investors to set up farms & factories so our fellow citizens can be EMPLOYED and earn a decent salary so they can live in DIGNITY.

Only people with Cow Cloned Brain Syndrome, CCBS would support such a clueless old soldier with no notion of macroeconomics




Vote wisely!!!

Very soon it is Niger Delta and Igbos Youths who will start campaigning against this thief of a president. He cannot be fooling them so effectively any longer than this.

anonimi:



George W. Bush and Barack Hussein Obama must both be crooks and looting the US must be the only thing they know how to do very well, innit





As always when there is need for concrete, long-term action for sustainable growth, development and recovery the naysayers and detractors will also make a lot of useless noise.

They would rather prefer the dash dash economic formula of their egg-headed professors advising the daft & dumb old pensioner to give N5,000 to 25 million unemployed people, which totals N1.5 trillion yearly i.e. 1/3rd of our 2014 budget.


[img]http://upload.wikimedia.org/wikipedia/en/6/62/Almajiri_mendicants_stretching_hands_to_collect_sweet_as_Sadaka._Many_people_in_Hausa_land_give_'Sadaka'_to_almajirai_on_daily_basis_seeking_Divine_reward_and_protection.jpg[/img]



Obviously no thought of focusing on provision of infrastructures, facilities, utilities and the accompanying economic policies to create an enabling environment and encourage private investors to set up farms & factories so our fellow citizens can be EMPLOYED and earn a decent salary so they can live in DIGNITY.

Only people with Cow Cloned Brain Syndrome, CCBS would support such a clueless old soldier with no notion of macroeconomics




Vote wisely!!!

are you making any sense at all? you just like posting nonsense. How can we be bailing out companies we sold assets to few months ago? Did they not know the capacities of these companies before selling to them?

How did they win bids in the first place?

Did obj also sponsor mtn and co in their early days?

Why didn't they sell to other competent bidders?

anonimi:



George W. Bush and Barack Hussein Obama must both be crooks and looting the US must be the only thing they know how to do very well, innit





As always when there is need for concrete, long-term action for sustainable growth, development and recovery the naysayers and detractors will also make a lot of useless noise.

They would rather prefer the dash dash economic formula of their egg-headed professors advising the daft & dumb old pensioner to give N5,000 to 25 million unemployed people, which totals N1.5 trillion yearly i.e. 1/3rd of our 2014 budget.

Obviously no thought of focusing on provision of infrastructures, facilities, utilities and the accompanying economic policies to create an enabling environment and encourage private investors to set up farms & factories so our fellow citizens can be EMPLOYED and earn a decent salary so they can live in DIGNITY.

Only people with Cow Cloned Brain Syndrome, CCBS would support such a clueless old soldier with no notion of macroeconomics




Vote wisely!!!

You must be so daft to relate the auto bailout to these stupid donation to discos and gencos.

Did the US sell those assets at ridiculous prices to ford, gm motors and Chrysler in the first place? Where those companies State owned?

The bailout was to save jobs, save the stock market etc. This stabilisation fund is Paddy Paddy arrangee payback.
The discos collects N750 monthly from consumers yet still need donation, the discos are privately owned and not public liability companies like the auto companies you foolishly brought into your analogy.

pendy79:


if only your fada heeded all advise of the village dibia to use you for the Money Making rituals instead of your mother, you wont be here to show the madness and curse inherent in your lineage.

lol see the reason why ur life is in shambles?

Why give our common wealth to pro-Jonathan companies? Are these not the same companies that donated Billions to Jonathan/Sambo campaign? This is a case of the Government stealing through the Discos and Gencos. Jonathan is a fraud

Fraud. PDP fraud. Electricity privatisation charade.

#change
#GMB
#APC

pendy79:
Nigeria is in shambles, the same DISCOs and GENCOs who donated about N5billion to the PDP Presidential campaign now need Intervention fund to do their business.

were we not told they have privatize the Power Sector? Nigerians are paying N750 maintenance fee very month whether power was given or not. Multiply N750 by approximately 100million households in the country.

Power generation have dropped from 4000Megawatts in 2014 to 2500Megawatts as at January 2015, and money is still flying left , right and centre.

Nigeria is indeed a babana republic, can't wait for the CHANGE

Chai

See lie

100Million households


Where you get this statistics

Adminisher:
Very soon it is Niger Delta and Igbos Youths who will start campaigning against this thief of a president. He cannot be fooling them so effectively any longer than this.

Now you spoke wisely


That's why you guys should back out and allow us shell him with cries for true federalism after his re election

BlackTechnology:



Chai

See lie

100Million households


Where you get this statistics

You saw approximately in the post na.

pendy79:


You must be so daft to relate the auto bailout to these stupid donation to discos and gencos.

Did the US sell those assets at ridiculous prices to ford, gm motors and Chrysler in the first place? Where those companies State owned?

The bailout was to save jobs, save the stock market etc. This stabilisation fund is Paddy Paddy arrangee payback.
The discos collects N750 monthly from consumers yet still need donation, the discos are privately owned and not public liability companies like the auto companies you foolishly brought into your analogy.

If you do not know what is being discussed you should learn to SHUT UP like your other internet warriors who are a bit smarter than you are, ok?

Kindly show us how/when an intervention fund with interest rate became "stupiid donation".

Instructively, the intervention fund is not free money. The facility is to be repaid over a period of ten years at 10 percent interest rate per annum. In addition, part of the fund will be used to settle the N36.9 billion debt reportedly owed gas suppliers by the defunct PHCN and to cover shortfalls in the Nigerian electricity market. These shortfalls were said to have been largely occasioned by technical losses recorded in the sector.

More from: http://sunnewsonline.com/new/?p=92185

Otherwise na you sef be the baba of stupiid, shiiiiooooooooooorrrrrrrrrr!!!!!!!!!

I don't know how low and crazy you APCheat people will go with your blatant lies, distortions and half truths to FALSELY discredit the progressively performing Jonathan/Sambo federal administration