Central Bank of Nigeria (CBN) N213 billion electricity market stabilisation facility

Overview:

• The Central Bank of Nigeria (CBN) has agreed to provide a N213 billion facility to stakeholders in the country's electricity sector to create liquidity, repay debt and to encourage investment in infrastructure as the government looks to improve persistent issues with power supply.  
• The CBN has established an SPV to hold the facility, which will make loans through deposit banks to electricity distributors and generators and gas suppliers.  
• The loan is backed by the Federal Ministry of Power, the Department of Petroleum Resources and the Nigerian Electricity Regulatory Commission.

Ben Naylor - Regional editor