News Column

World Bank Spends U.S.$200 Million to Boost Power Supply in Nigeria

August 19, 2014

Obas Esiedea

The World Bank has injected about $200million to boost power supply in Nigeria, Resident Country Representative of the United Nation's Industrial Development Organization, UNIDO, PatrickKormawa has said in Abuja.

Kormawa told newsmen at the on-going National Council on Power (NACOP) that the core interest area of his organization is sustainable power sector in Nigeria as typified by the on-going sector reform.

While commending the Nigerian government for organizing the NCOP forum that has brought all stakeholders together, he noted that development partners are working to ensure the devolvement of sustainable power sector in Nigeria.

He observed that it is a very important variable in the overall efforts at economic prosperity and job creation efforts of Government.

He expressed the hope that the forum would help stakeholders in the sector to work in synergy to grow the power sector and bring the needed energy required to boost economic growth and social development of the country.

"Private sector is investing huge sums of money in power to resuscitate a once dormant sector of the economy; it would 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",he noted.

The UNIDO Country Representative added that with the nation's abundant resources both in renewable and other energy sources that could easily be developed for generation of power.

Also speaking at the sideline of the event, the Chairperson of the Emergency Committee on the North-East, Soji Adelaja said, it was important for the government to ensure that the root causes of non-access to power by the large number of people in the region is addressed.

"In the age and time of new knowledge economy, we cannot afford 50 per cent of the people and their land mass to live their lives without access to energy", he stated.

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Source: AllAfrica

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