*As Nigeria businesses lose $29bn annually to poor electricity OpeOluwani Akintayo Lagos — The World Bank on Wednesday said 6…
Browsing: Power Sector Recovery Programme
OpeOluwani Akintayo Lagos — The Federal Government has committed to subsidising the new electricity tariffs until April 1, this year. The…
NERC targets robust tariff review process. Power sector regulator, the Nigerian Electricity Regulatory Commission, NERC, has said it is implementing
“Meters don’t distribute energy, meters measure energy that is been distributed. The core business of the Disco is to distribute energy, they need meters.”
It said, “The World Bank has approved a credit of $486m for Nigeria’s electricity transmission substations’ rehabilitation. This is a part of the financial support aimed at achieving a viable power sector through the PSRP implementation.”
“In many parts of the country connected to the grid, citizens’ feedback is positive, even though all the problems are not solved. Citizens acknowledge more power in dry weather, reduced hours of running their generators and reduction in fuel (diesel and petrol) purchase to power generators.”
“The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said.
The PSRP serves as a road map to the effective optimization of the Nigeria power sector is a series of policy actions, operational governance and financial interventions being implemented by Federal Government over a period of time.
He noted that unlike what many experts would have Nigerians believe, the inefficient power supply is not what is making the economy not to grow, stressing that Nigeria recorded 7 percent annual growth rate in 2013 and 2014 when it was generating less electricity than it does currently.
OpeOluwani Akintayo 31 January 2018, Sweetcrude, Lagos – A team of World Bank experts currently in the country has visited the…
