Connect with us

Hi, what are you looking for?

TVCE Articles

Senate asks FG to halt plans on raising N309bn bond for power

Transmission cable

The Senate has asked the Federal Government to stop plans to raise a 309 billion naira bond expected to finance electricity generation in the country and erase recorded shortfall in projected power availability.
In a resolution following a motion sponsored by Senator Mustapha Bukar (APC/Katsina North), the Senate urged the government to put the plan on hold pending conclusion of investigation into the matter by its committees on Power and Privatisation.

Senator Bukar said there was no need for the bond after the Central Bank of Nigeria’s intervention in March to the tune of 213 billion naira through the Nigeria Electricity Sector Intervention (NESI).

The Senate called on the Ministry of Power, Works and Housing and the Nigeria Electricity Regulatory Commission (NERC) to immediately stop the raising of the bonds by the Nigeria Bulk Electricity Trading Company (NBET).

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Kanye West and Ty Dolla $ign soar to the top of this week’s Billboard 200 chart with their collaborative album, ‘Vultures Volume 1’. According...


Crayon, the talented singer from Blowtime Entertainment and Mavin Records, continues his upward trajectory with the release of his latest single, ‘Fade Away’. Following...


Afrobeats sensation Asake stole the spotlight as the headlining act at the prestigious UNTOLD Music Festival in Dubai. Known as one of Europe’s largest...


  Damian Lillard, representing the Milwaukee Bucks, showcased his prowess on the court throughout the NBA All-Star Weekend, earning both the MVP title and...

Copyright © TVCCommuniation owner of TVC Entertainment