The Federal Government has moved to provide loans at single-digit interest rates for the financing of electricity projects across the country, the Permanent Secretary, Federal Ministry of Power, Godknows Igali, has said.
The government wants the Central Bank of Nigeria and the National Pension Commission to provide these loans.
A statement issued by the System/Market Operation Department of the Transmission Company of Nigeria quoted Igali as assuring power investors that “the ministry is discussing with relevant federal agencies such as the CBN and PenCom for the purpose of providing a pool of funds that can be accessed at single-digit to ramp up operations and service delivery.”
He also said that bi-lateral discussions were ongoing with several international agencies on how to build flared-gas power plants, micro-grids and other renewable energy plants in order to provide more power for Nigerians.
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