The Federal Government has approved N701 billion as Power Assurance Guarantee for the Nigeria Bulk Electricity Trading.
 
The Federal Executive Council meeting presided over by the Acting President, Yemi Osinbajo also approved N263 million for three research institutions to produce Gum Arabic seedlings for Nigerian farmers and for export.
 
Briefing state house correspondents at the end of the meeting, the Minister of Power, Works and Housing, Babatunde Fashola, said‎ the fund to be made available by the Central Bank of Nigeria  is to guarantee the payment for the evacuation of power produced by generating companies for the national grid. 
 
Minister of Agriculture, Audu Ogbeh, said the council approved the sum of N263 million for three research institutions to produce Gum Arabic seedlings for Nigerian farmers and for export.