On Saturday, May 14, 2016, Zenith Bank Plc signed a very significant power sector credit facility agreement with the French Development Agency (AgenceFrancaise de Development (AFD) that could have very positive implications for Nigeria’s electricity challenges.
The on-lending term loan being made available to Zenith Bank is to support new investments in the CAPEX (capital expenditure) of Distribution Companies (DISCOs) in the power sector in Nigeriaat single digit interest rates.
Chairman of Zenith Bank Mr. Jim OviaandMrs. Laurence Breton-Moyet, Chief Operating Officer and Member of the Executive Board from the AFD Headquarters, Paris signed the agreement with Presidents MuhammaduBuhari and Francois Hollande in attendance.
With the potential to give over $100 million in loans to the DISCOs, this could very well be a turning point in Nigeria's struggle for uninterrupted power supply.
Read more
here
"...that could...",how true is that? We shall see though!
ReplyDeleteNice
ReplyDelete...merited happiness
Good initiative, kudos Zenith.
ReplyDelete~glo rule your world~ cos I do•
I hope it goes well
ReplyDeleteNice!
ReplyDeleteOK...
ReplyDeleteI think this DISCOS are doing far better than IE, everything about lagos is always so messed up.
ReplyDeletecommendable
ReplyDeleteWelcome development
ReplyDeleteGd 4 dem
ReplyDeleteLinda mkn money snc 2000
-D great anonymous now as Vivian Reginalds
This is good.
ReplyDeleteLol. Read this funny akpos jokes here
We pray o.
ReplyDeleteGood one
ReplyDeleteLet's all watch and c where d deal will Nigeria to as regards power generation.
ReplyDeleteDem do well
ReplyDeleteAmen to your last sentence
ReplyDeleteDats great news. Linda take note!
ReplyDeleteThat's good
ReplyDeleteNice one Jim
ReplyDeleteLIB ADDICT#just passing#
Pls Disco don't tell me $100million dollars is the problem for naija electricity problem, while Dansukigate: share $2.1billion within there self for lunch and dinner, just like that......
ReplyDeleteNa wa oooo, with the budget allocated to power, we still dey borrow more, na wa oooo
ReplyDeletePls stop deceiving nigerians on the power sector. What ever investment you make on the distribution component it will not add any mega watt in the system. So how can it ensure steady power supply. In a country that requires 170,000mW with less than 5,000mW available, our priority should be on generation. Even the 10,000mW target by 2019 is insignificant. May Allah help us. I wonder how the economy will grow without energy.
ReplyDeletegreat news. we hope for a positive change in our power sector. and nw the power alertz guyz can come into play.
ReplyDeleteOk
ReplyDeleteOk, seen
ReplyDeleteAll I see is loans every where you go
ReplyDelete*NWA 042*
Another story again
ReplyDeleteOkay,
ReplyDelete#FINEST
Putting money in discos that would still link up to the national grid! Nonsense!
ReplyDeleteDecentralise the national grid and each region would use natural resources available to them to have steady light, eg Enugu coal, hydro ,etc.
Thumbs-up Zenith bank plc, we hope for the best
ReplyDelete