World Bank’s $1.75b lifeline for power sector comingWorld Bank’s $1.75b lifeline for power sector coming
The World Bank is readying the most comprehensive external intervention in Nigeria’s power sector, World Bank’s Country Energy Task Team Leader for Nigeria, Mr. Eric Fernstrom, has hinted.
Fernstrom at a capacity building programme on Post Privatisation Monitoring for the sector, organised by the bank and the Bureau of Public Enterprises (BPE, said that the $1.75 billion was 25 per cent of the $7 billion earmarked for the country. It will be spent over four years.
Head of Public Communications, BPE, Mr. Chigbo Anichebe, in a statement, Said 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.
The two-day workshop held at Ibom Golf Resort, 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 (PHCN) successor companies.
It was also meant to enable participants analyze performance targets, using relevant tools as well as expose them to strategies for effective engagement and collaboration with relevant stakeholders.
Participants at the workshop were drawn from the Nigerian Electricity Regulatory Commission (NERC); Presidential Task Force on Power (PTFP); Transmission Company of Nigeria (TCN); and the Office of the Vice President; among others.
The Director General of the BPE, Mr. Benjamin Dikki, rated the workshop very high, saying it will raise participants’ capacity to effectively monitor power companies.
He was represented by the Director of Post Privatisation Monitoring Department, Mr. Ibrahim Kashim.
