Over the next four years, the World Bank will spend $1.75 billion to support the Power Sector Reform (PSR) in Nigeria.
This was disclosed by the World Bank’s Country Energy Task Team Leader for Nigeria, Mr. Eric Fernstrom, at a capacity building programme on Post Privatisation Monitoring for the sector.
Fernstrom, explained that the $1.75 billion was 25 per cent of the $7 billion earmarked for the country.
BPE’s Head of Public Communications, Mr. Chigbo Anichebe also confirmed the development in a statement yesterday.
Chigbo noted that the bank was greatly encouraged to offer the additional assistance fo the realisation of the reform’s objectives following the transparency displayed in the transaction process and the post reform measures put in place by the National Council of Privatisation (NCP) and the BPE.
