The World Bank has pledged $1.75bn (N282.6bn) to support the Nigerian power sector reform over the next four years, the Bureau of Public Enterprises has said.
A statement issued by the Head of Public Communications, BPE, Mr. Chigbo Anichebe, in Abuja on Monday, said 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 the power sector jointly organised by the bank and the privatisation agency.
Fernstrom said the $1.75bn was 25 per cent of the total of $7bn earmarked for Nigeria in the next four years.
He noted that the bank was greatly encouraged to offer the additional assistance to ensure that the reform objectives were realised as a result of the transparency exhibited in the transaction process and the robust post-reform measures put in place by the BPE.
The two-day workshop held in Uyo, Akwa Ibom State, sought to expose participants to the techniques, methods and information sources for effective post privatisation monitoring and evaluation of the Power Holding Company of Nigeria successor power companies.
The workshop 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.
The workshop attracted participants from critical sector stakeholders, including the Nigerian Electricity Regulatory Commission, Presidential Task Force on Power, Transmission Company of Nigeria, and the Office of the Vice President, among others.
Reviewing the programme, the Director General of the BPE, Mr. Benjamin Dikki, ranked it very high in value addition and stated that it had greatly increased the capacity of the participants to effectively monitor power companies.
The DG, who was represented by the Director of Post Privatisation Monitoring Department, BPE, Mr. Ibrahim Kashim, thanked the World Bank for sponsoring the programme and for its sustained support to the agency over the years.