The Federal Government has received payment from Niger and Benin Republics, for the electricity supplied to them.
Power, Works and Housing minister, Raji Fashola, said both countries paid about $64.6 million, for the outstanding electricity bills.
Fashola made this known, at the monthly power sector ministerial meeting in Asaba, the Delta State capital.
The minister said the Nigeria Electricity Bulk Trading Company, will work out the modality for sharing of the $64.63 million revenue, among the electricity distribution companies.
The minister also announced that Rural Electrification Agency (REA) had completed guidelines for the operation of the rural electrification fund.
He said that the fund would help vulnerable groups and communities to gain access to funding to support their electricity development programme.
“By way of explanation, the rural electrification fund was created by section 88 of the Electric Power Sector Reform Act (EPSRA) of 2005 to promote support and provide rural electrification access.
“The fund will provide a partial single payment capital subsidy and or technical assistance to eligible private Rural Power Developers, NGOs or communities to invest in options such as hybrid mini grids or solar home systems to scale up rural access to electricity.
“What they are likely to get are minimum amounts of N3.5m and maximum amounts of N106m or 75 per cent of project cost whichever is less,” he said.Please subscribe to our newsletter [mc4wp_form id="10101"]