Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has released N123.34 billion to Distribution Companies (DisCos) to boost electricity supply in the country.
The disclosure was made by the bank in its Monetary Policy Committee Communique recently.
The communique says that the apex bank disbursed N33.45 billion to nine DisCos for the procurement of 605,852 meters. Also, N89.89 billion was disbursed under the Nigerian Electricity Market Stabilisation Facility (NEMSF 2) to 11 DisCos to improve the electricity supply in the country
It stated, “Under the National Mass Metering Programme, N33.45 billion has been disbursed to 9 distribution companies for the procurement of 605,852 meters, while N89.89 billion has been disbursed under the