Local and international banks are now jostling for the funding of N678bn rehabilitation of power generation companies.
This indication emerged on Friday as virtually all the nation’s banks are showing renewed interests in the power transformation project.
They started by providing the N525bn funds for the acquisition of the Power Holding Company of Nigeria.
The Group Head, Project and Structured Finance, FCMB Capital Markets Limited, a member of the First City Monument Bank Group, Mr. Robert Grant, said, “The estimated $4.28bn rehabilitation expenditure would likely be financed by the Nigerian banks with support from international financial institutions.”
He also confirmed that the banks played a major role in the privatisation of the 15 PCHN successor companies and added that they would continue to take advantage of the opportunities in the privatised power sector.
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