FG, World Bank Collaborate on Power Sector Reforms

The Federal Government and the World Bank have expressed their commitment to providing electricity access to 300 million people across Africa by 2030.

This was as they promised to implement critical reforms to boost productivity in the Nigerian power sector.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the pledge during an interaction with the Vice President for Infrastructure at the World Bank, Guangzhou Chen.

A statement posted on the Finance Ministry’s X handle on Thursday stated that the meeting focused on addressing ongoing challenges in the sector and accelerating efforts to improve electricity access across the nation.

During the meeting, the finance minister emphasised President Bola Tinubu’s commitment to the Mission 300 project, a joint initiative by the World Bank and the African Development Bank, to provide electricity access to 300 million people across Africa by 2030.

The statement noted that the partnership was part of “the need for reforms that would improve efficiency, expand access, and ensure sustainable energy solutions for Nigeria’s growing population.”

Others present at the meeting included Ndiame Diop, World Bank Country Director for Nigeria; Franz Drees-Gross, Director of Infrastructure for West Africa; Taimur Samad, Operations Manager at the World Bank; and representatives from the Office of the Special Adviser on Energy to the President, among others.