This was disclosed by the Minister, Mr Wale Edun, in a statement by the Director, Information and Public Relations of Ministry of Finance, Mr. Mohammed Manga, at a meeting with World Bank delegates.
It adds that plans are in to roll out 3.5 million meters to enhance power distribution, 50 million dollars funding for state solar plant pilots and infrastructure upgrades.
The delegate was led by Dr Ndiamé Diop, Country Director for Nigeria and Ms Olu Verheijen, Special Adviser to the President on Energy.
“The meeting was in a view to reaffirmed President Bola Tinubu Administration’s commitment to repositioning the economy for the future of Nigeria. The meeting aimed at innovative ways of driving Nigeria’s power sector forward.
“It also focused on World Bank-supported initiatives, which involved the Power Sector Recovery Operation (PSRO) and the Distribution Sector Recovery Programme (DISREP)”, it stated.
And that the, “Initiatives’ objective was to improve power distribution and management systems to ensure economic growth of the country. And the key issues highlighted involved plans to roll out 3.5 million meters to enhance power distribution, 50 million dollars funding for state solar plant pilots and infrastructure upgrades.
“Also, measures to support tariff frameworks, market reforms and co-financing the Transmission Company of Nigeria’s Performance Improvement Plan.
“This collaboration aims at strengthening Nigeria’s power sector, enhancing energy access, promoting economic growth and development.
“The collaboration also aimed at improving job creation as well as poverty alleviation in line with the Renewed Hope Agenda of the present administration,’’ he said.
Diop, however, expressed its commitment to work with the Federal Government toward achieving the goals for the benefit of all Nigerians.
