President Muhammadu Buhari has announced the scraping of the Power Assistance Fund (PAF) domiciled in the Central Bank of Nigeria (CBN) and targeted at supporting tariff shortfalls, as well as other interventions in the power sector. A document made available to the Senate revealed that the interventions had gulped a whopping N1.8 trillion since the beginning of power privatisation on November 1, 2013. Buhari, who made this announcement in Lagos, during the commissioning of the power system’s Supervisory Control and Data Acquisition (SCADA) project centre put in place by…
Read MoreNigeria Phases Out N1.8trn Power sector’s Intervention Fund
