The federal government has solicited the assistance of the World Bank to tackle the current challenges confronting the country’s power sector.
The sector is afflicted by serious liquidity challenges with the distribution companies locked in a serious confrontation with the Minister of Power, Works and Housing, Mr. Babatunde Fashola. As part of efforts to resolve the multifaceted problems in the sector, the Minister of Finance, Mrs. Kemi Adeosun, Thursday called for the intervention of the World Bank.
Adeosun, who spoke at a meeting in Abuja with the World Bank’s Vice-President for Africa, Mr. Hafez Ghanem, acknowledged the bank’s interventions in Nigeria in areas such as education, health and water, and conveyed the federal government’s appreciation to the visiting World Bank chief. However, she added that the bank’s intervention in the power sector was critical at the moment.