The World Bank’s board of directors has approved the Power Sector Recovery Operation (PSRO), an operation of $750 million in International Development Association (IDA) credit to improve electricity supply, achieve financial and fiscal sustainability, and enhance accountability in the power sector in Nigeria.
According to the bank, about 47 percent of Nigerians do not have access to grid electricity and those who do have access face regular power cuts.
While I commend this great initiative coming from the World Bank, I am however worried about the effective utilization of such funds to achieve the desired purpose.
Nigerians all over the country have over years continued to face the problem of power outages and epileptic electricity supply despite the billions of naira sunk into the sector over the years by successive administrations.
Notwithstanding the poor electricity supply, Nigerians have continued to pay outrageous bills to Discos for services not rendered through estimated billings.
I therefore call on the federal government to ensure that this power sector fund coming from the World Bank is judiciously utilized to boost power supply in the country.
Amos Ogunmola writes in from Suleja, Niger State