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FG cancels $717.7m World Bank...

The Federal Government has cancelled $717.7 million...

Tinubu welcomes UK-backed Lebara’s entry...

Tinubu welcomes UK-backed Lebara’s entry into Nigeria,...

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 -
Development

NASS urges increased...

NASS urges increased collaboration between gov't and private sector in fixing roads The lower chamber of the Nigerian National Assembly (NASS), aka the House of...
Maryam Umar -
Health

Gov. Buni approves...

Gov. Buni approves employment of 196 medical personnel Governor of Yobe state and Chairman APC Caretaker Extraordinary Convention Planning Committee, Hon. Mai Mala Buni, has...
Gift Luckson -
Business & Economy

Again, FGN urges...

Again, FGN urges mining sector investors to carry host communities along Story from Abah ADAH, Abuja The Federal Government of Nigeria (FGN) has again appealed to...
Gift Luckson -
Education

Yobe gov’t set...

Yobe gov't set to hold fundraiser to revive education sector Yobe government says it will hold a fundraiser on the 10th of February to...
Gift Luckson -
Business & Economy

We’re constrained by...

We're constrained by dispatch capacity not generation - GENCOs Story from Abah ADAH, Abuja The electricity generation companies (GENCOs) in Nigeria have stated that though they...
Gift Luckson -
Business & Economy

AKK: NNPC, Nasarawa...

AKK: NNPC, Nasarawa sign MoU on gas utilisation Story from Ibraheem Hamza MUHAMMAD, Lafia The Nigerian National Petroleum Corporation (NNPC) and Nasarawa State Government have signed...
Gift Luckson -
Education

Yobe gov’t to...

Yobe gov't to deduct 10% civil servants salaries to boost education The Yobe State government said it will deduct 10 per cent of November...
Gift Luckson -
Local

PPP key to...

PPP key to sustaining Nigerian mining sector investment drive, development - DG Story from Abah ADAH, Abuja The Director-General (DG) of the Nigerian Mining Cadastre Office...
Neptune Prime -
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