Government, Ministry of Power

AfDB Committed to Supporting Nigeria’s Power Sector Recovery Programme- Adeshina

Posted: March 17, 2018 at 9:11 pm   /   by   /   comments (0)

By Dele Ogbodo

The President of the African Development Bank (AfDB), Mr. Akinwumi Adeshina, has reiterated the bank’s commitment to support and assist Nigeria actualize its power sector recovery programme.

The federal government and the bank on Friday in Abuja concluded a 2-day meeting on the framework for the country’s power sector recovery programme with the overriding aim of delivery and promotion of energy access to rural communities, through the expansion of the transmission grid and other programs.

The Vice President, Prof. Yemi Osinbajo, led the Nigeria delegation, while the AfDB President, was represented by his Vice President for Power, Energy, Climate Change and Green Growth, Mr. Amadou Hott. The meeting brainstormed on the development of financing innovative products and provision of technical assistance to improve revenue generation by the distribution companies.

According to the statement obtained from the bank’s website, it will focus on supporting the programme in three primary areas which include operational and technical, governance and policy based support.

The bank’s energy strategy underscores energy as crucial not only for the attainment of health and education, but also for industrialization, reducing the cost doing business and for unlocking economic potentials and businesses and jobs.

The statement quoted Adeshina as saying: “Africa is simply tired of being in the dark. It is time to take decisive action and turn around this narrative: to light up Africa and accelerate the pace of economic transformation, unlock the potential of businesses, and drive much needed industrialization to create jobs.”

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