The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Headline News

FG Secures $500m World Bank Loan To Boost Power Distribution

The Next Edition by The Next Edition
May 31, 2024
in Headline News
World Bank Blacklists 58 Nigerian Firms, Individuals – [See Details]
0
SHARES
7
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The World Bank has advanced $500 million loan to the federal government to address identified gaps in the Electricity Distribution Companies (DisCos).

The Bureau of Public Enterprises (BPE) confirmed the loan facility on Thursday via a statement issued by Amina Tukur Othman, Head, Corporate Communications, BPE.

You might also like

Finland Charges Simon Ekpa With Inciting Terrorism

Tinubu To Attend Pope Leo XIV’s Inauguration

Nigeria’s Inflation Rate Drops To 23.7%

The facility was approved by the bank’s board of directors way back February 4, 2021 as funding support to the Nigerian Distribution Sector Recovery Program (DISREP) aimed at improving the financial and technical performance of the DisCos.

DISREP is designed to enhance the financial and technical operations of the DisCos through capital investment and the financing of key components of their Performance Improvement Plans (PIPs), which have been approved by the Nigerian Electricity Regulatory Commission (NERC).

BPE listed key areas of improvement to include, bulk procurement of customer/retail meters and meter data management systems, implementation of a Data Aggregation Platform (DAP); strengthening governance and transparency within the DisCos, program components, DISREP comprises two main components: Programme for Results (PforR), allocation of $345 million, support the implementation of selected PIP components; B P E a s implementation,investment Project Financing (IPF) and $155 million as allocation. “The purpose is to finance the procurement of meters, a data aggregation platform, and technical assistance”, BPE explained.

The Next Edition

The Next Edition

Recommended For You

Simon Ekpa, Self-declared Prime Minister of Biafra, Arrested For Terrorism Activities

Finland Charges Simon Ekpa With Inciting Terrorism

Finnish prosecutors on Friday said they have charged Simon Ekpa with inciting terrorism online.   This is even as the prosecution authority said the prosecutor had decided to...

Alt="President Bola Ahmed Tinubu"

Tinubu To Attend Pope Leo XIV’s Inauguration

President Bola Tinubu will depart Abuja on Saturday for Rome, Italy, to attend the inauguration of Pope Leo XIV. According to a statement by his spokesman, Bayo Onanuga,...

Rising Inflation Rate Impedes Growth In Real Sector – Ex-Ogun MAN Chairman

Nigeria’s Inflation Rate Drops To 23.7%

Nigeria’s inflation dropped to 23.7 percent in April, from 24.23 percent in March 2025. The National Bureau of Statistics, NBS, disclosed this in its April Consumer Price Index...

Alt="Minister of Power, Mr Adebayo Adelabu"

Nigeria Needs $10bn Yearly For 20 Years To Achieve Stable Electricity – FG

The Minister of Power, Adebayo Adelabu, has said the country needs $10 billion annually to fix the crisis in the power sector.   The Minister spoke on Tuesday,...

Next Post
100 Happy New Month Messages, Wishes, Prayers For June 2024

100 Happy New Month Messages, Wishes, Prayers For June 2024




Related News

KKSCHMA To Establish Clinics In All Social Welfare Homes Of Kano State

Senate Not Boiling, Says Akpabio

How Benue Farmer Rescued Newborn Baby Dumped In The Bush

How Benue Farmer Rescued Newborn Baby Dumped In The Bush

COVID-19: Abia Govt. Orders Mandatory Tests For Executive Council Members, Others

COVID-19: Abia Govt. Orders Mandatory Tests For Executive Council Members, Others




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited