World Bank advises Nigeria on power sector development

The World Bank says addressing power sector issues offers Nigeria an opportunity to tackle longstanding challenges and give the economy a boost.
The bank said this in its Nigeria Development Update (NDU) for June 2021, a bi-annual publication of the bank on the economic outlook of Nigeria.
The publication is titled: “Resilience Through Reforms”.
According to the report, a holistic approach integrating comprehensive measures is necessary to address Nigeria’s power problems sustainably.
It recognised the fact that to address the economic challenges that arose from the oil price shock and COVID-19, the Federal Government inaugurated a N23 trillion Nigerian Economic Sustainability Plan (NESP) in July 2020.
“The NESP lays out an ambitious package of policy measures and programmes to stimulate activity and create jobs through investments in agriculture, roads, renewables and housing.
“But any economic recovery programme will be severely challenged by minimal access to electricity, an insufficient power supply and a financially unviable power sector….


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