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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

CBN’s financial management...

Story from ABAH ADAH, Abuja Energy experts have said that the financial discipline introduced by the Central Bank of Nigeria (CBN) in the electricity industry...
Maryam Umar -
Development

Nigerian Govt apologises...

The Minister of Power, Sale Mamman, has apologised for the power supply outage experienced by many Nigerians across the country on Thursday. Mamman stated that...
Gift Luckson -
Columns

2023: Between a...

A few days ago, Asiwaju Ahmed Tinubu’s birthday was marked with a colloquium in the ancient city and most populous (this is debatable) state...
Salim Sani -
Local

Jubilation as power...

The entire city of Maiduguri, yesterday, was thrown into a frenzy and wild jubilation after electricity returned to the town two months after Boko...
Neptune Prime -
International

10 years after...

At a government-sponsored ceremony on Thursday to mark the 10th anniversary of a magnitude-nine earthquake and resulting tsunami that hit north-east Japan, Prime Minister,...
Maryam Umar -
EFCC

Former Minister of...

Nigeria's former Minister of State for power, Muhammad Wakil has been remanded in prison custody till 31 March 2021 on the order of a...
Aisha Auyo -
Gist

”Up NEPA”- Nigerian...

A Nigerian family residing in Texas went wild in jubilation as power was restored to their home shouting up NEPA days after power outage...
Maryam Umar -
International

Trump mulling scores...

President Donald Trump began his final full day in the White House Tuesday with a long list of possible pardons to dish out before...
Neptune Prime -
Local

Give us power...

Story from Emmanuel SAMUEL, Yola The North-East governors have urged the Federal Government to release the executive powers of prosecuting Terrorism into their hands since...
Neptune Prime -
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