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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 -
EFCC

EFCC investigates suspicious...

EFCC investigates suspicious transactions in Sunrise/Mambilla power project Story from Saleh INUWA, Kano Nigeria's efforts to dismiss the $2.3 billion arbitration filed by Sunrise Power and...
Maryam Umar -
News

Inmates engage in...

Inmates engage in reckless s3xual activities after 3 weeks of blackout in Yobe prisons Story from Sa'adatu MAINA, Damaturu Inmates and correctional law enforcement officers of...
Gift Luckson -
Development

Buhari commissions NNPCL...

Buhari commissions NNPCL power project in Borno President Muhammadu Buhari commissioned the Maiduguri Emergency Power Project constructed by the Nigeria National Petroleum Company Limited (NNPCL)...
Gift Luckson -
2023 election

Buhari congratulates Tinubu,...

Buhari congratulates Tinubu, assures of smooth power handover Nigerian President Muhammadu Buhari has congratulated the winner of the 2023 Presidential Election, Bola Ahmed Tinubu of...
Gift Luckson -
Africa

AEC urges improved...

AEC urges improved transparency, governance in power sector at EITI meeting The African Energy Chamber (AEC) serving as the voice of Africa’s energy industry called...
Maryam Umar -
Nation

Nigeria – Siemens...

Nigeria - Siemens Power Deal: FGN confirms arrival of transformers Story from Abah ADAH, Abuja The Federal Government of Nigeria (FGN), has acknowledged the arrival of...
Maryam Umar -
Development

Buhari to commission...

Buhari to commission Siemens' power transformers in November Story from Abah ADAH, Abuja President Muhammadu Buhari has assured that he would commission the two power...
Maryam Umar -
Local

Gombe govt to...

Gombe govt to partner NDPHC in building 250MW solar power plant Story from Abah ADAH, Abuja Gombe State government has said it is working to build...
Maryam Umar -
News

Geregu Power Plc...

Geregu Power Plc set to become first power firm to list on Nigerian exchange Story from Abah ADAH, Abuja All is now set for Geregu Power...
Maryam Umar -
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