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FG cancels $717.7m World Bank...

The Federal Government has cancelled $717.7 million...

The Girl Who Escaped The...

The Girl Who Escaped The Eagle’s Nest:...

FG cancels $717.7m World Bank Power Sector loan amid reform setbacks

The Federal Government has cancelled $717.7 million in undisbursed World Bank intervention funds meant to support reforms in Nigeria’s troubled electricity sector. The decision followed a formal request by the Federal Government and a joint agreement with the World Bank to discontinue financing under the Power Sector Recovery Performance-Based Operation after key reform targets failed to materialise amid changing realities in the sector. Documents obtained from the World Bank showed that the cancellation affects the remaining balance of a broader $1.52 billion power sector recovery programme. “The restructuring will result in the...
Abdullahi Mustapha Haruna -
Nation

FG launches power...

FG launches power sector update, feedback website The federal government through its Power Sector Recovery Programme (PSRP) on Wednesday launched a website aimed at providing...
Gift Luckson -
Nation

Power ministry staff...

Power ministry staff urged to up game in service delivery Story from ABAH ADAH, Abuja The staff of the Ministry of Power have been enjoined to...
Maryam Umar -
Business & Economy

NBET meets stakeholders...

NBET meets stakeholders towards securing 40MW for national grid Story from Abah ADAH, Abuja As part of its response to the current electricity challenges facing the...
Gift Luckson -
Local

Gov’t that can’t...

Gov't that can't protect citizens deserves not to be in power - Northern group As Nigerians continue to lament the worsening spate of insecurity in...
Maryam Umar -
Nation

REA tasks developers...

REA tasks developers on prompt delivery of power projects The Rural Electrification Agency (REA) has enjoined Private Power Developers under the Energising Economies Initiative (EEI)...
Salim Sani -
Nation

FCT residents tasks...

FCT residents tasks AEDC on equitable distribution of power Many residents of the Federal Capital Territory (FCT) have decried the inequitable distribution of power to...
Gift Luckson -
Local

Aspirants call for...

Aspirants call for calm as conflicts deepens in Plateau PDP Story from Yakubu VENTIM, Jos The Plateau State Chapter of the People Democratic Party (PDP) is...
Gift Luckson -
Nation

Nigerian gov’t releases...

Nigerian gov’t releases emergency measures to restore normal supply of electricity nationwide The Federal Ministry of Power has released top emergency measures to ensure power...
Gift Luckson -
Nation

Rotation of power...

Rotation of power would guarantee equity, justice - APC aspirant Ahead of the forthcoming general elections in 2023, the national secretary of the All Progressives...
Gift Luckson -
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