FG cancels $717m W’Bank power loan amid blackouts.
The Federal Government has cancelled $717.7 million in undisbursed World Bank funding meant for Nigeria’s electricity sector, bringing an end to the remaining part of the $1.52 billion Power Sector Recovery Programme earlier than planned. The decision followed a joint agreement between the Federal Government and the World Bank to discontinue financing under the programme due to ongoing challenges in the power sector and difficulties in meeting major reform targets. […]
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