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Nigeria taps World Bank to rescue power sector

Nigeria’s finance minister is seeking additional World Bank funding to turn around the power sector even as it struggles to abide by pre-existing financial terms set by the institution Nigeria’s finance minister is seeking additional World Bank funding to turn around the power sector even as it struggles to abide by pre-existing financial terms set by the institution.
By Felix Janvrin 9 May 2019 Middle East & Africa / Policy & Regulation 0 34204
The Azura-Edo power plant in Nigeria. (Azura Power)

The key issue: Nigeria’s new finance minister, Zainab Ahmed, has met World Bank officials regarding the Power Sector Rescue Program, a delayed $1 billion loan project that aims to reboot the country’s crippled downstream sector.

Interfax analysis: Additional World Bank funds could help speed up reforms to Nigeria’s power sector, which would also benefit gas suppliers as the fuel accounts for the majority of the country’s power mix. However, it remains to be seen whether the World Bank will be willing to help as reforms to...