Economic News Update

Power sector faces collapse as banks halt loans

The inefficiencies in the privatised power sector has made the Deposit Money Banks unwilling to provide loans to electricity generation and distribution firms, an investigation by our correspondent has shown.

It was learnt that some banks were shunning the loan requests of the power firms as the financial institutions appeared no more convinced about the viability of investing in the power sector, judging by the happenings in the Nigerian Electricity Supply Industry.

 

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Economic News Update

Power sector faces collapse as banks halt loans

The inefficiencies in the privatised power sector has made the Deposit Money Banks unwilling to provide loans to electricity generation and distribution firms, an investigation by our correspondent has shown.

It was learnt that some banks were shunning the loan requests of the power firms as the financial institutions appeared no more convinced about the viability of investing in the power sector, judging by the happenings in the Nigerian Electricity Supply Industry.

 

Read More

Comment here