SAN FRANCISCO, March 19, (THEWILL) – The Minister of Power, Works and Housing, Mr Babatunde Fashola says that the country now has the capacity to generate not less than 7,000 Megawatts (MW) of electricity.
Fashola made this known in response to questions on the News Agency of Nigeria (NAN) Forum in Abuja adding that the transmission chain had also developed capacity to transmit the same megawatts
This comes as the World Bank commenced preparations for the $500m Nigerian Electricity Distribution Improvement Project.
It was learnt that the bank had conducted a fact-finding mission in the distribution sub-sector of the industry in order to ascertain how it could help boost service delivery by the power distributors.
According to Nigeria’s Power Sector Recovery Programme, the global financial institution had met with officials of the Federal Ministry of Power, Works and Housing and other operators in the sector as regards the development.
The PSRP, which is domiciled at the headquarters of the Nigerian Electricity Regulatory Commission stated that the Nigeria Electricity Transmission Access Project recently got approval for $486m from the World Bank.
It said: “The World Bank has approved a credit of $486m for Nigeria’s electricity transmission substations’ rehabilitation.
“This is a part of the financial support aimed at achieving a viable power sector through the PSRP implementation.”
