World Bank’s $1.8bn coming 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.