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Nigeria,United States : NIGERIAN power sector receives $200m funding from WORLD BANK

August 16, 2014

The Washington-headquartered World Bank has delivered almost $200m in funds to Nigeria to improve the power sector of the country.

Mr. Patrick Kormawa, the Resident Country Representative, United Nations Industrial Development Organisation (UNIDO), has made this revelation at the ongoing National Council on Power seminar in Abuja on Wednesday.

Kormawa has also disclosed that the UNIDO s key focus is on the sustainability of Nigerian power sector, which is in line with the transformation of the sector.

He said, The private sector is investing huge sums of money in the power sector to resuscitate a once dormant industry of the economy. This will require the collaboration of all to ensure success of the whole exercise.

When you have partnership built around a strong support base of stakeholders, it will facilitate power access in the society.

The UNIDO Official has stated that there is huge prospect of electricity production in Nigeria as the nation is rich in terms of renewable as well as other energy resources.

Kormawa has also revealed that his organization focuses on the power industry because without electricity, industrialisation is a mirage.

He has thanked the Federal Government for supporting the conference since the event has provided a common meeting platform for all stakeholders. The UNIDO Resident Country Representative has also stated that the development of partnerships is in line with the UNIDO s pledge to facilitate sustainable power in Nigeria.

He noted, This conference is a very important variable in the overall efforts at economic prosperity and job creation efforts of the government.

Kormawa has disclosed that the conference will also facilitate the development partners to sit together with other stakeholders and boost the faith of the investors further.

The Chairperson of the Emergency Committee (North-East) Prof. Soji Adelaja has stated that the restricted power accessibility for most of the residents in the region can be blamed, to some extent, for the widespread insurgency and insecurity situation in the area.

Prof. Adelaja revealed. In this age and time of new knowledge-based economy, we cannot afford to have 50 per cent of our people and their land mass live their lives without access to energy.

He has made these statements on the sidelines of the conference in Abuja.

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Source: TendersInfo (India)

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