Mr. Godwin Emefiele was appointed the Governor of the Central Bank of Nigeria on 4th June 2014 by President and has served Nigeria meritoriously since then.
Under his leadership, the Central Bank of Nigeria has successfully fashioned & deployed effective financial solutions & initiatives to improve and stabilize the power sector, in collaboration with the Nigerian Electricity Regulatory Commission and other stakeholders in the power sector. Some of the interventions in the Power Sector by the CBN under Mr. Emefiele include.
- The Nigerian Electricity Market Stabilization Facility (NEMSF) to support Discos in the provision of guarantees to the Bulk Trader and as well as capital injections into their dire infrastructure.
- The structuring of a Payment Assurance Guarantee to the Nigeria Bulk Electricity Trading Plc to cater for payment shortfalls to GenCos and their natural gas suppliers.
- The implementation of the National Mass Metering Programme (NMMP) which has significantly increased metering penetration in the NESI. The NMMP is the most successful mass metering programme so far in the history of the Nigerian power sector
- Implementation of a central collection account for the entire power sector, that has improved and enhanced payment discipline in the NESI.
- Provision of long term funding to DisCos to meet their OPEX and CAPEX funding requirements;
The CBN’s interventions in the power sector has put the NESI on the path of financial viability, stabilized the national grid, enhanced the sector revenues and improved electricity supply to end-user customers. The conferment of the Lifetime Achievement Award in the Power sector is in recognition of Mr. Godwin Emefiele’s immeasurable contributions and achievement to the power sector.
We now invite Mr. Godwin Emefiele to receive this Lifetime Achievement award.