Energy crisis: FG orders release of N59bn to PHCN

Soji-Eze Fagbemi, Abuja - 25.07.2008

To further boost power generation across the country and address the epileptic power supply, President Umaru Yar’Adua has directed the Federal Ministry of Finance to release N59 billion to Power Holding Company of Nigeria (PHCN).

It was also revealed on Thursday that power generation in the country remained at 2,600 mega watts more than one year after President Yar’Adua came into power and promised to declare emergency on the power sector.

Appearing before the Senate Committee on Power and Steel, Permanent Secretary in the Ministry of Energy (Power), Dr. Abdullahi Aliyu, said the N59 billion to be released to the PHCN was the remaining of the N115 billion budgeted for improvement of power supply in the country in 2008 budget.

He stated that the ministry had received N56 billion, adding that the money had been earmarked for power projects across the country.