NIGERIA SEEKS $5.2B WORLD BANK FACILITY TO BOOST ELECTRICITY. By Ediri Ejoh with Agency report

Captured from a protest march in Ajegunle community

THE Federal Government is seeking $5.2 billion from the World Bank to expand the country’s electricity generation, the Minister of Power Works and Housing, Mr. Babatunde Fashola, has said.

Fashola who made this disclosure to Bloomberg, said the fund is expected to help the country recover from its first recession in 25 years. According to him, the World Bank’s

private-sector lending arm, the International Finance Corporation (IFC), is set to invest about $1.3 billion in power projects and electricity Distribution Companies, DISCOs.

THE Federal Government is seeking $5.2 billion from the World Bank to expand the country’s electricity generation, the Minister of Power Works and Housing, Mr. Babatunde Fashola, has said. Fashola who made this disclosure to Bloomberg, said the fund is expected to help the country recover from its first recession in 25 years. According to him, the World Bank’s private-sector lending arm, the International Finance Corporation (IFC), is set to invest about $1.3 billion in power projects and electricity Distribution Companies, DISCOs.

Read more at: http://www.vanguardngr.com/2017/05/nigeria-seeks-5-2b-world-bank-facility-boost-electricity/

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