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Nigeria to Improve Electricity Access and Services to Citizens
The World Bank approved $500 million to support the government of Nigeria in improving its electricity distribution sector. The project will help boost electricity access by improving the performance of the Electricity Distribution Companies (DISCOs) through a large-scale metering program desired by Nigerians for a long time. In addition, financial support would be provided to private distribution companies only on achievement of results in terms of access connections, improved financial management and network expansion.
85 million Nigerians don’t have access to grid electricity. This represents 43% percent of the country’s population and makes Nigeria the country with the largest energy access deficit in the world. The lack of reliable power is a significant constraint for citizens and businesses, resulting on annual economic losses estimated at $26.2 billion (₦10.1 trillion) which is equivalent to abo
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World Bank has approved $500 million to support Nigeria to improve its electricity distribution sector.
The bank, in a statement on Friday, said that the project will help boost electricity access by improving the performance of the Electricity Distribution Companies (DISCOs) through a large scale metering program desired by Nigerians for a long time.
It explained that financial support would be provided to private distribution companies only on achievement of result in terms of access connections, improved financial management and network expansion.
According to the bank, 85 million Nigerians do not have access to grid electricity.
“This represents 43 per cent of the country’s population and makes Nigeria the country with the largest energy access deficit in the world,” the statement said.
Austin Atakpu, the Managing Director, TCS Paymeters Ltd., manufacturers of prepaid meters, says metering of houses in the country is a gradual process and not automatic.