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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 -
International

Trump not sure...

President Donald Trump has refused to clearly guarantee a peaceful transfer of power should he lose the United States election in November to Joe...
Gift Luckson -
Local

We don’t have...

Niger State government has denied the allegations of closing down the existing Federal roads in the state to articulated vehicles. Alhaji Balarabe Ibrahim, Chairman, Infrastructure...
Maryam Umar -
Development

Electricity: Nigeria installs...

The country’s first rural commercial undergrid mini-grid has finally been installed in Mokoloki, a rural community in Ogun State. The project, an initiative of Rocky...
Maryam Umar -
Health

Ahmad Lawan urges...

Senate President Ahmad Lawan on Tuesday called on the Federal Government to review or reverse the privatisation of the nation’s power sector. Lawan made the...
Aisha Auyo -
Health

Reactions trail bill...

As the House of Representatives considers passing a stimulus bill to ensure free electricity supply for two months, Nigerians have expressed feelings for the proposal. Speaker...
Aisha Auyo -
Health

Mixed reactions over...

Nigeria electricity consumers looking forward to improved power supply, to cushion the effect of the nationwide stay-at- home-order, as part of measures to limit...
Gift Luckson -
Local

Electricity workers threaten...

Electricity workers nationwide on Tuesday in Abuja threatened to shut down power unless the Federal Government immediately sack the Transmission Company of Nigeria’s, Managing...
Gift Luckson -
Health

 Iranian nation will...

The Chief Commander of the Islamic Revolutionary Guard Corps said that the resistance and power of the Iranian nation will defeat the new coronavirus...
Gift Luckson -
International

Serena Williams breezes...

Serena Williams found her power game after a sluggish start as she overcame qualifier Camila Giorgi to open her 2020 season with a straight-sets...
Aisha Auyo -
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