W’Bank backs tariff, subsidy reforms in Nigeria’s power sector
The World Bank will support reforms to Nigeria’s electricity tariff and subsidy frameworks to restore financial sustainability in the power sector. Read More: https://punchng.com/wbank-backs-tariff-subsidy-reforms-in-nigerias-power-sector/
The World Bank has announced its commitment to support reforms in Nigeria's electricity tariff and subsidy frameworks, as part of efforts to restore financial sustainability in the power sector. The World Bank's Country Partnership Framework for Nigeria, covering FY26-FY32, aims to improve electricity access and reliability for households and businesses through on-grid and off-grid solutions, all in line with Nigeria's Mission 300 Compact targets.
The bank's intervention will focus on tariff and subsidy reforms, competitive investment planning, and sound sector regulation, with the aim of mobilizing private capital for renewable energy expansion and grid densification. With over 86 million people without access to electricity in Nigeria, frequent power outages have forced households and businesses to rely on expensive generators, negatively impacting productivity.
Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
