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Sovereign Wealth Funds Briefing - Categorized | Financials

Nigeria: TCN board seeks funding from Excess Crude Account

Posted on 30 August 2013

The reconstituted supervisory board of the Transmission Company of Nigeria (TCN) has asked the federal government to finance expansion projects in Nigeria’s power sector with funds from the Excess Crude Account (ECA).
Chairman of the board and a onetime chairman of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) Haman Tukur, who spoke shortly after the board’s inauguration by the Minister of Power, Prof. Chinedu Nebo, yesterday in Abuja, asked the government to set aside at least $2 above the official benchmark price of crude oil to finance projects in the power sector………………………………………..Full Article: Source


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