Power Subsidy Ends in 2027 – FG

  Nigeria’s costly electricity subsidy is heading for the exit. Minister of Power Joseph Tegbe announced on Friday that the Federal Government will begin phasing it out from 2027, framing the move as central to rescuing a power sector buried under trillions of naira in unpaid bills. Speaking at a media session in Abuja, Tegbe…

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World Bank, AfDB Electrify 50 Million Across Africa

  Africa’s largest electrification drive has crossed a defining threshold, with the World Bank Group and the African Development Bank announcing that their joint Mission 300 initiative has connected more than 50 million people to electricity across 40 countries, even as Nigeria, home to the world’s biggest power access deficit, accounts for over 4.5 million…

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$3.6 World Bank Loans Fail to Revive National Grid

$3.6b World Bank Loans Fail to Revive National Grid

Nigeria’s national electricity grid continues to collapse despite receiving 3.6 billion dollars in World Bank loans over the last decade. A comprehensive review of development finance reveals that massive capital injections failed to fix the country’s chronic transmission and distribution failures. The multi-billion-dollar funding aimed to stabilise power supplies, expand the national grid, and bring…

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