Economic optimism in Nigeria fails to allay power sector concerns
- 20 Apr 2018
| 9 minute read
A loan worth up to $1bn to support power sector reform is expected to go before the World Bank board for approval on 28 May. The government’s strategy, outlined in the 2017-2020 Economic Recovery and Growth Plan (ERGP), is to reach financial close on the 15 solar photovoltaic projects that have signed power purchase agreements, accelerate the standardisation of the independent power producer (IPP) process, and develop a clear legal and commercial framework for investment in power projects. Cost-reflective tariffs and a nationwide metering programme are also included.
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