The World Bank has approved $750 million (about N290.6 billion) to tackle the liquidity crisis in Nigeria’s power sector.

The fund, coming as an International Development Association (IDA) credit for the nation’s Power Sector Recovery Operation (PSRO), is to boost financial sustainability and enhance accountability in the sector.

Decrying the nation’s epileptic electricity supply that had cost the economy some $28 billion and two per cent of its Gross Domestic Product (GDP), the World Bank Country Director for Nigeria, Shubham Chaudhuri, observed that the initiative would uplift the citizens.

He lamented that the lack of reliable power had stifled economic activities, investments and job creation.




https://m.guardian.ng/news/world-bank-okays-n291b-to-improve-electricity-in-nigeria/

Another one....

Abacha won't be our only ATM ancestors.. More loading

Naija is just like Yahoo boy too

Let them continue to rub

The big question remains; does Nigeria have a solution on ground to tackle the epileptic power supply? If the handlers of those funds don't have a tactical solution, those funds would go to waste.
The first step is to understand that no matter how much you increase the MW generated, if the distribution transformers and injection substations are weak or overloaded, then it's futility!

Some people are smiling already with this news. That funds will be looted as always!!! World Bank will collect interest and in the end we'll be the sole loser.

Anoda loan oooo.... Buhari right now

I thought that it's what you have that you can improve. In Nigeria, we don't even have the electricity in the first place, we only see poles and wires/cables hanging on them in all our streets, but those installations don't produce power supply, it's only our generators that do. If the World Bank can, they should share the money directly to all Nigerians to get themselves generators, fuel and engine oil cos our government won't improve any electricity, but their pockets

Please let's take this petition to 100 signatures. The petition is for better electricity before increasing electricity tariffs.

Please sign the petition and let's drive a reform in the distros. Electricity distribution is very inefficient and the distros keep making money off Nigerians... while NERC folds its arms.

OUR LOOTNANT GENERALS GO RE-LOOT AM☹️

Thought Lai Mohammed, Babatunde Fashola and zombies always say power generation have greatly improve & the govt have fulfilled all its promises? So what is world Bank assisting Nigeria for? Hope it's not another loan because it will be looted.Cursed nation.

I want those people that protested against obaseki loan to come and protest against this one too