To enhance Nigeria’s power distribution, the federal government and the World Bank are planning to roll out 3.5 million meters.
Director of information and public relations in the Ministry of Finance, Mohammed Manga, who disclosed this in a statement on Monday, said the initiative aims to drive economic growth and development in the country.
According to the statement, the finance minister, Wale Edun, while chairing a meeting in Abuja with World Bank delegates led by Ndiame Diop, country director for Nigeria, and Olu Verheijen, special adviser to the president on energy, reaffirmed President Bola Tinubu administration’s commitment to repositioning the economy for the future of Nigeria.
Manga said the meeting was held to discuss innovative ways to drive Nigeria’s power sector forward, adding that it focused on World Bank-supported initiatives, including the power sector recovery operation (PSRO) and the distribution sector recovery programme (DISREP), aimed at improving power distribution and management systems to ensure economic growth and development in the nation.
“Key highlights from the meeting include plans to roll out 3.5 million meters to enhance power distribution, $50 million funding for state solar plant pilots and infrastructure upgrades and measures to support tariff frameworks, market reforms, and co-financing the Transmission Company of Nigeria’s Performance Improvement Plan,” he added.
