FG Receives $486m World Bank Credit For Power Sector
World Bank has approved a 486 million dollars credit facility to Nigeria for the poor electricity grid development and improvement. The lender said on Friday.
“The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said.
Nigeria’s power sector is often criticised by economist of the negative effects of the power sector on the economy
Businesses and households are subject to frequent blackouts, and many depend on their own generators that are expensive to run.
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