Nigeria to receive World Bank’s $1.8bn for power sector.

The Bureau of Public
Enterprises, BPE, Monday, said
that the World Bank will support
the Nigerian Power Sector with $
1.75 (about N294 billion) over the
next four years.
This is contained in a statement
by the BPE’s Head, Public
Communications, Mr. Chigbo
Anichebe, in Abuja.
According to the statement, the
World Bank’s Country Energy Task
Team Leader for Nigeria, Mr. Eric
Fernstrom, disclosed this at a
Capacity Building Programme on
Post Privatisation Monitoring for
Power Sector.
It said the programme was jointly
organised by the bank and the
enterprise to ensure that the
reform objectives were realised.
This, it stated, was due to the
transparency exhibited in the
transaction process and the robust
post reform measures put in place
by the National Council on
Privatisation, NCP.
It reported Fernstrom as saying
that the $1.75 billion was 25 per
cent of a total $7 billion
earmarked for Nigeria in the next
four years.
It said the workshop, which was
held in Uyo, was to expose
participants to the techniques,
methods and information sources
for effective Post Privatisation
Monitoring and Evaluation of
PHCN successor companies.
“It was also meant to enable
participants to analyse
performance targets, using relevant
tools as well as expose them to
strategies for effective engagement
and collaboration with relevant
stakeholders.
“It attracted participants from
critical sector stakeholders,
including the Nigeria Electricity
Regulatory Commission,
Presidential Task force on Power,
Transmission Company of Nigeria,”
it stated.
The statement also reported the
Director-General of BPE, Mr.
Benjamin Dikki, as saying that the
workshop had greatly increased
the capacity of the participants to
effectively monitor power
companies.
Dikki also expressed gratitude to
the World Bank for its continued
support to the enterprise over the
years and for sponsoring the
programme.