Monday 15th July 2019
Monday, 15th of July 2019
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AfDB to support Nigeria’s power sector recovery programme

The African Development Bank (AfDB) says it will support Nigeria’s Power Sector Recovery Programme (PSRP) in three areas.

AfDB

Vice-President, Yemi Osinbajo, receives African Development Bank Vice-President for Power, Energy, Climate Change and Green Growth, Amadou Hott, and other African Development Bank Senior Managers in his office to discuss Nigeria’s Power Sector Recovery Programme (PSRP), State House Abuja

It listed the areas to include: operational and technical intervention, governance issues, and policy based support.

The bank disclosed this in Abuja on Friday, March 16, 2018 in a statement signed by Mrs Fatimah Alkali, the Senior Communications Officer in Nigeria Country Office.

AfDB said it had undertaken a mission to hold further discussions on Nigeria’s PSRP with several stakeholders.

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The bank said that the mission was led by Mr Amadou Hott, the bank’s Vice President for Power, Energy, Climate Change and Green Growth.

It said meetings had been held with relevant ministries, departments and agencies (MDAs) to harmonise plans and areas of intervention.

The ministries and agencies include the Ministries of Finance, Power, the Nigerian Electricity Regulatory Commission, the Transmission Company of Nigeria, World Bank and solar power developers.

The bank said the programme was designed to promote energy access to rural communities through the expansion of the transmission grid, development of innovative financing products and provision of technical assistance to improve revenue generation by the distribution companies.

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It said the goal of the mission was to identify opportunities for collaboration in the programme.

“The bank’s energy strategy identifies energy as crucial not only for the attainment of health and education outcomes, but for industrialisation, reducing the cost of doing business and for unlocking economic potential and creating jobs.

“In line with its high 5 development priorities, the bank is committed to supporting Nigeria in the effective and efficient implementation of the country’s Power Sector Recovery Programme,” the bank said.

The statement quoted the bank’s President, Dr Akinwumi Adesina, as saying that “Africa is simply tired of being in the dark.

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“It is time to take decisive action and turn around this narrative: to light up and power Africa and accelerate the pace of economic transformation, unlock the potential of businesses and drive much needed industrialisation to create jobs,” he said.

By Suzzy Tolofari

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