Will The $486m Loan From World Bank Liberate The Nigerian Power Sector?

In 2016, the Managing Director and Chief Executive Officer, Egbin Power Plc, Mr. Dallas Peavey, Jr., in an interview said ‘the nation may be enveloped in darkness in the coming weeks due to a myriad of challenges in the power sector’.  This was three years after the country’s 11 distribution companies and the 6 generation companies had been privatised. As much as the government has been putting policies in place from time to time to improve this sector, the result has been pretty much the same, not satisfactory.

There are still many regions across the country that experience very fundamental problems regarding power supply, some of them as bad as communities that have never experienced power supply, while others are for years and months have also been in darkness.

The current minister for Power, Works and Housing has also been making efforts to improve the Power sector. In terms of power generation, there has been a significant increase from the day he was appointed minister till date. He’s also fully exploring other means of generating power supply and constantly  urging the  Civil Society Organisations (CSOs)  to come up with ideas and suggestions on how to effectively and efficiently improve this sector that is a backbone to the development of the nation.

The most recent development is the $486 million credit from the World Bank to improve the country’s power sector in fulfillment of one of the United Nation’s Sustainable Development Indicator. Will this loan really help us attain the power sector we have always desired?

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