President Muhammad Buhari has approved N600 billion intervention funds for power.
National Daily learned that the Market Operator of Transmission Company of Nigeria, Edmond Eje, revealed the approved intervention fund by the president disclosed during a sideline media interaction at the third MO interactive stakeholders’ forum.
It was remarked that the N600 billion disbursement makes the third key intervention funds disbursement to the investors in power by the federal government after it officially handed over power distribution and generation to private investors in November 2013.
It was gathered that the Senate had opposed the continuous disbursement of bailout funds by the federal government to private power firms.
More appalling is the perennial power outage despite the billions of funds poured unto the sector by the government as intervention to improve power business in Nigeria.