The
Federal Government has released N8.27 billion for Distribution Companies
(DISCOs) and Power Generating Companies (GENCOS).
A
statement issued on Wednesday in Abuja by Mr Paul Nwabuikwu, spokesman for the
Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, said the money
was released, following approval by President GoodLuck Jonathan.
“N8.27
billion was specifically released to the Federal Ministry of Power for the
DISCOs and GENCOs, following approval by President Goodluck Jonathan,’’ it said
It said
that the Ministry of Finance had paid N72.7 billion to the Federal Ministry of
Power, so far this year, to cover various items in line with the implementation
of the power roadmap.
The
amount, it said, included theN45 billion paid to Power Holding Company of
Nigeria (PHCN) workers, as part of the power privatisation programme.
It also
includes monies released under the Multi Year Tariff Order (MYTO).
“Other
beneficiaries include the Ministry of Power headquarters, PHCN, National Rural
Electrification Agency, National Electricity Regulatory Commission, National
Power Training Institute, National Electricity Liability Management Limited/GTE
(NELMCO) and Bulk Trader,’’ it said
According
to the statement, more than N59.08 billion was paid in the first quarter while
N13. 73 billion was paid in the second quarter.
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