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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 -
News

FG commits to...

FG commits to clearing N1.4 trillion debt to Egbin Power, payments to begin in April Minister of Power, Adebayo Adelabu, has reiterated the federal government's...
Neptune Prime -
NEPTUNE FEATURE

Embracing Simplicity and...

Embracing Simplicity and Humility: When power, wealth take a back seat Last week, in the bustling neighborhood of Jayanagar in Bangalore, a heartwarming sight unfolded...
Neptune Prime -
News

Four northern states...

Four northern states experience power outage as DisCo loses supply A power outage has hit four northern states – Kaduna, Sokoto, Zamfara, and Kebbi –...
Neptune Prime -
Article

Top 10 African...

Top 10 African countries with strong military power in 2024 (Pictures) In 2024, the African continent continues to witness significant advancements in military capabilities among...
Neptune Prime -
Facts

The Healing Power...

The Healing Power of Laughter: How a chuckle can ease pain, inside and out Laughter, often  dubbed  as  the  best medicine, goes beyond just lifting...
Neptune Prime -
News

Ex-Minister of Power...

Ex-Minister of Power Agunloye remanded in Kuje prison over $6bn Mambilla fraud The Economic and Financial Crimes Commission (EFCC) has arraigned Olu Agunloye, former Minister...
Salim Sani -
Local

NUJ applauds Governor...

NUJ applauds Governor Buni, YEDC for swift restoration of power in Yobe The Nigeria Union of Journalists (NUJ), Yobe Council, has praised Governor Mai Mala...
Salim Sani -
News

Tinubu orders Ondo...

Tinubu orders Ondo deputy governor to take over power as Gov. Akeredolu goes on medical leave Following the announcement that Ondo State Governor, Oluwarotimi Akeredolu,...
Salim Sani -
News

Power supply returns...

Power supply returns after national grid failure Story from Vincent CHIKAMSO, Abuja In the early hours of Thursday, the national electricity grid experienced a significant collapse,...
Salim Sani -
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