So, clearly, it’s a major step that we have taken. And we will begin to see improved, reliable and steady power supply to Nigerians
The Federal Government has secured a fresh $500 million loan from the World Bank to upgrade Nigeria’s electricity distribution infrastructure despite the sector’s N4 trillion debt burden.
Director General of the Bureau of Public Enterprises (BPE), Ayodeji Gbeleyi, disclosed this at the Senior Leadership Retreat of the Nigerian Independent System Operator (NISO) in Abuja. Gbeleyi said the funding would provide 3.2 million meters for Nigerians, describing it as part of the president’s renewed hope agenda.
“So, clearly, it’s a major step that we have taken. And we will begin to see improved, reliable and steady power supply to Nigerians,” he said.
Chairman of NISO’s Board, Dr. Adesegun Akin-Olugbade, revealed that contracts for a nationwide Supervisory Control and Data Acquisition (SCADA) system have been awarded and are progressing.
“At NISO, we are working to build an institution that is technically sound and ethically grounded,” Akin-Olugbade stated, promising reforms to ensure grid stability.