To totally improve the availability and reliability of electric power in Nigeria, World Bank has earmarked N63.438 billion.

The Bank's Senior Energy Specialist, Prasada Tallapragada disclosed this yesterday at a Consultative Forum on Nigeria Electricity and Gas Improvement Project held at Landmark Hotel, Port Harcourt.

The energy specialist who described the power sector in the country as very challenging and complex said World Bank has mapped out dimensional strategies such as ensuring appropriate legal and regulatory framework, supporting gas supply contracts through Partial Risk Guarantees (PRG) and complementary investments in transmission and distribution systems as a way of providing lasting solutions

He emphasized that the power project would unlock the economy of the country, solve employment problems, make gas available and improve the quality of life of the people.

His words: " The project would result into five distinct economic benefits - incremental, reliable and improve quality of gas supply; reduction of power losses from generation; distribution and electrical grid; improve power quality and reliability; and improve financial health of PHCN".

He regretted: "Today, Nigeria is in the position to produce 4,500mwts of power whereas it was able to produce only 2,500mwts. The reason is that gas is not available, if gas is made available, power supply in Nigeria can always be doubled; this means that the issue of gas availability is very important and has to be tackled on a priority position".

Tallapragada hinted that World Bank would support the Federal Government policy towards ensuring that oil companies, which produce gas send the gas into the domestic market.

To that end, he informed that World Bank would provide the securitization for the contractual framework.

The Energy specialist also hinted that the power project would not only sustain reliable gas supply for all the existing plants in the country, but would also cover new plants is yet to come.

He, however, solicited maximum co-operation from the various stakeholders in the country and urged the government to desist from politicizing the sector, which according to him was responsible for the various challenges faced in the sector.

The Country Director of Centre for Development Support Initiative, (CEDSI), Mrs. Mina Ogbanga described the power project as timely.

She lamented that the epileptic power supply in the country has caused huge damage in virtually all the sectors in the country.

She said her organization would do its best to ensure that the power project information gets to the stakeholders and the people in the Niger Delta region.

I wonder how many millionaires will be made from these investments?

While it is a step in the right direction, I really do not see how this will be achieved. Besides, there have been various world bank investments that never took off if I remember correctly, or at least we have nothing to show for it.

It would be potentially helpful if these plans are implemented and the project well executed, but as with most things with and in Nigeria, it works upside down. Come to think of it, how many Million, if not billions of monies have been invested in the power sector to date? What do we have to show for it?

@ElRazor

I didnt want to be the first to post in reply, just looking for what will the first post be, but as expected, negative comments and un wanted assumptions. We in Nigeria, we want things to improve, yet, any step taken towards that will be pulled down as not necessary, how will the power sector improve without money being spent? Ok, in your wise opinion, how will you as a person want the power sector to be improved without spending a dime or budgeting millions, so that we wont make people millionaires overnight? Please let us know, so that we can quickly stop the world bank from doing what they want to do.

i_laugh:

@ElRazor

I didnt want to be the first to post in reply, just looking for what will the first post be, but as expected, negative comments and un wanted assumptions. We in Nigeria, we want things to improve, yet, any step taken towards that will be pulled down as not necessary, how will the power sector improve without money being spent? Ok, in your wise opinion, how will you as a person want the power sector to be improved without spending a dime or budgeting millions, so that we wont make people millionaires overnight? Please let us know, so that we can quickly stop the world bank from doing what they want to do.

This is not about negative comments, it is about the reality of things. Do you not think I want my own country to improve or get better? I will be mad and anti-Nigeria not to want that.

You see the problem are these, based on past histories of how mismanagement and embezzlement have happened without much of the perpertrator ever brought to proper justices, it is safe to make such assumptions. If you disagree, please tell me what have changed much in terms of how we clinically deal with corruption.

As with most projects that are started with Good faith in Nigeria, a greater percentage of it do not exactly achieve their goals. Instead, what we tend to have are a few people who got rich in the process. Remember the allocation that was made by the past administration to "improve the power sector" [again], whatever happened to that one? Didnt a report carried out by Yar'dua regime showed that most of these monies was unaccounted for, even some of the site that was designated for these projects is still covered in bush?

You know the point is, we cannot ignore previous history just like that, there will be people like me who will be sceptical as a result.

The power sector in Nigeria, needs improvement no doubt, however a massive lump sum from world bank will not exactly solve our problem, due to the way things had/have been in Nigeria. You can pump money all you want into it, but provided we have this sort of mentality - Getting rich at the expense of others, then we have a long way to go.   


PS
If there is anything I say and you still disagree with, please feel free to call me on it. I will re-explain myself again.

Sounds good!

OneNaija:


He regretted: "Today, Nigeria is in the position to produce 4,500mwts of power whereas it was able to produce only 2,500mwts. The reason is that gas is not available, if gas is made available, power supply in Nigeria can always be doubled; this means that the issue of gas availability is very important and has to be tackled on a priority position".

Are you correct that we are currrently generating 2,500 MW? For your information, the nation's energy output has dropped to 700MW.

www...com

Please no ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooh 

i rather remain in darkness. Nigeria is a world record holder of fund mismanagement even Usain Bolt can't catch us.  The Beast called Nigeria is well versed in swallowing  large amounts of money without any significant tangible improvement . N63bn is compared to as having a starter in a restaurant ( Nigeria will eat that up in  6.7 secs)

blacksta:

Please no ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooh 

i rather remain in darkness. Nigeria is world record holder of fund mismanagement even Usain Bolt can't catch us.  The Beast called Nigeria is well versed in swallowing  large amounts of money without any significant tangible improvement . N63bn is compared to as having a starter in a restaurant ( Nigeria will eat that up in  6.7 secs)

i_laughs clearly disagree.

I dont know how the funding works, but I think we may have to pay back this money right or is it a grant?


PS
Our power sector is the equivalent of UK's NHS, always needing "more funding"

Don't the World Bank make this sort of announcements every year and what are the results we have seen over the last ten years. Every year they claim to invest in water,agriculture etc I have'nt seen one tangible project the World Bank has executed, Nigerians should'nt get their hopes high!

seges:

Don't the World Bank make this sort of announcements every year and what are the results we have seen over the last ten years. Every year they claim to invest in water,agriculture etc I have'nt seen one tangible project the World Bank has executed, Nigerians should'nt get their hopes high!

During the 90s I am sure World bank was a major backer or sponsor of the DFRRI programes. This lead to several villages having water, roads etc and subsidised fertilizers and seeds.

If you live in the city, it wont be noticeable, but if you travel alot and read some of the road signs, you will tend to see something along the lines of "Bleep project supported by world bank"

@Poster,

Can you please provide your source for this story. Thank you.

seges:

Don't the World Bank make this sort of announcements every year and what are the results we have seen over the last ten years. Every year they claim to invest in water,agriculture etc I have'nt seen one tangible project the World Bank has executed, Nigerians should'nt get their hopes high!

Yep!! Seems every other year we hear of the World bank investing so many more millons/billions into Nigeria. The world bank is a bank, not a consulting firm or contractor of some sort to execute projects on behalf of Nigeria.