Business
CBN Disburses N64.7bn Power Intervention Fund

Chairman, Association of Senior Civil Servants of Nigeria, Rivers State chapter, Comrade Austin Jonah (standing), addressing participants, during a one-day seminar organised by the association in Port Harcourt, recently. With him are representative of the Chairman, Rivers State Internal Revenue Service, Dr Ovy Chukwuma (left) and representative of Chairman, Rivers State Civil Service Commission, Dr G.A.I. Nwogwu. Photo: Egberi A. Sampson
The Central Bank of Ni
geria (CBN) says it has so far disbursed N64.7 billion of the N213 billion earmarked for power sector intervention.
The money was set aside in February to tackle the poor power supply in the country.
Mr Boma Benebo, Deputy Head, Infrastructure Development Finance Office, CBN, disclosed this after inspecting 62,021 prepaid meters procured by Kano Electricity Distribution Company (KEDCO) in Kano.
He said the facility was expected to be utilised to improve power generation and supply across the country.
“The facility is expected to be utilised for approved activities like turn around maintenance, to achieve capacity recovery by power stations.
“It is also to be used for purchase of meters, rehabilitation of transformers, procurement and construction of new distribution substations among others,” he said.
He said the CBN-Nigerian Electricity Market Stabilisation Facility intervention had assisted in the restoration of 905 megawatts in the national grid following the turn around maintenance carried out at some facilities.
According to him, the intervention has also enabled DISCOs to purchase 171,071 meters, rehabilitation of over 332 kilometres of 11KV lines and 130 kilometres of 0.45KV lines.
“These investments are expected to reduce losses and significantly improve electricity delivery to Nigerians.”
Earlier, the Managing Director of KEDCO, Dr Jamil Gwamna, represented by the company’s Operating Officer, Mr Rahul Singh, said the organisation had received N7.6 billion from the CBN.
He said the money would be used to purchase meters and improve distribution networks.
He said the facility would enable the company to stabilise power supply in the three states it is serving – Kano, Katsina and Jigawa.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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