01 December 2017, Sweetcrude, Lagos – Minister of Power, Works and Housing, Babatunde Fashola, has met with some senior executives of the World Bank on the Nigerian Power Sector Recovery Programme, PSRP.
According to a hint by the Federal Ministry of Power, Works and Housing on Thursday, the meeting which held on Monday, centered on way forward for the power sector in terms of investments in capital projects.
In attendance were Minister of State Surveillance Suleiman Zarma Hassan and World Bank’s Senior Director Global Energy Practice, Mr Riccardo Puliti.
The meeting was held at the Ministry’s headquarters, Mabushi, Abuja.
The Federal Government Economic and Recovery Growth Plan 2017-2020, ERGP, sets out the medium-term structural reforms to diversify Nigeria’s economy, including expanding power sector infrastructure as one of the top priorities. The Power Sector Recovery Programme was designed on this basis.
The ERGP recognises the fundamental role of power to the development of all sectors of the economy. In the long term, the ERGP aims to increase power generation by optimising operational capacity, encouraging small-scale renewable projects, and building more capacity.
Medium term, the ERGP aims to optimise the delivery of at least 10,000 MW of operational capacity by 2020 by optimising the existing installed capacity available for generation, addressing gas supply issues including vandalism and completing major gas infrastructure lines for power.