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Nairaland Forum / Nairaland / General / Politics / World Bank Approves $750m Loan To Improve Electricity In Nigeria (782 Views)
World Bank Approves $750m Electricity Facility For Nigeria / COVID-19: FG To Get $750m Loan From World Bank For States — Zainab Ahmed / Nigeria And Germany Sign The 11,000mw Roadmap Deal To Improve Electricity - APC (2) (3) (4)
World Bank Approves $750m Loan To Improve Electricity In Nigeria by Racoon(m): 12:37pm On Jun 24, 2020 |
The World Bank has approved a $750 million loan through the International Development Association (IDA) to improve the reliability of electricity supply in Nigeria.https://www.thecable.ng/world-bank-approves-750m-credit-improve-electricity-nigeria/amp |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Olominira(m): 12:39pm On Jun 24, 2020 |
They are acting in response to China |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by JAOS(m): 12:41pm On Jun 24, 2020 |
i hope its won't be diverted 1 Like |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Xisnin(m): 12:42pm On Jun 24, 2020 |
Olominira:China is also a top contributor to World Bank. 2 Likes |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by xcolanto(m): 12:43pm On Jun 24, 2020 |
You got to be kidding me! |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Nobody: 12:49pm On Jun 24, 2020 |
Well, we have to do our bit too by allowing discos and gencos to control the prices set for power. If they do that , they would eventually be allowed to take loans from financial institutions since they would be making enough profit to do so. Nigerians too should pay their bills. Discos should also give is Prepaid meters 2 Likes |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Racoon(m): 12:51pm On Jun 24, 2020 |
Hehehe! Laughing @ the power cabal holding this nation to ransome.They're politicising power generation.Then provide people with prepaid metre-they said no.So guess nothing new will ever happen except the corruption therein. 1 Like |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by okefrancis: 12:56pm On Jun 24, 2020 |
Very good and it will improve our electricity supply |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Deputy1111(m): 12:58pm On Jun 24, 2020 |
I think this is a nice one because it will the Disco to put every necessary things in place to make light available for the citizens. |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Shooyie: 1:01pm On Jun 24, 2020 |
The idea is to stall the increment whilst making sure services are rendered efficiently to the satisfaction of Nigerians. Also, its only natural that once services are rendered efficiently payments will be made in return for satisfaction. |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by jlinkd78(m): 1:02pm On Jun 24, 2020 |
Sometimes one is tempted to ask if we truly need all these financial inflows cos d probability of being looted is almost 1. This loan will in d end not achieved it's purpose. Something tells me d Western powers have something they benefit whenever they approve these loans for d Nigeria FG. Definitely some people benefit cos I can see how Nigeria could pass any pre-qualification scrutiny to be granted these bazaar like loan. 2 Likes |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by TheRareGem1(f): 1:03pm On Jun 24, 2020 |
The whole idea is to defer additional costs to the Nigerian people pending the implementation of power sector reforms to prevent the worse scenerio, so FG using this to buy time to the Discos can improve service, meter and co while raise in tariffs for the poorest is delayed 1 Like |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Earlystar698(m): 1:05pm On Jun 24, 2020 |
I sympathize with future Nigerians, that's all I have to say!! 1 Like |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Olominira(m): 1:23pm On Jun 24, 2020 |
Earlystar698:It's not really bad, the country has young population and prospects for industrialization. If the money is rightly used, it would help in speeding up the industrialization process |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Nobody: 1:27pm On Jun 24, 2020 |
jlinkd78: The reason why the government is taking a world bank loan is because the DISCOS and GENCOS are not in a financial position to take loans. There is a reason why Dangote was able to take loans topping $11 billion to build the refinery he has almost completed. Because the banks know they will get their money back. DISCOS and GENCOS suffer two big problems impacting the way they make money PROBLEM 1: Many Nigerians don't pay their bills . That means DISCOS and GENCOS cannot make enough profits PROBLEM 2: They aren't the one setting the price for the product they are offering. Government does it.(By contrast, government does not set price of say Dangote Cememnt) So, when that happens, the World Bank steps in and gives loans. If we want the world bank to stop giving us loans, we have to let the DISCOS and GENCOS control the price they charge for power. That way, they would make enough of a profit to take loans from financial institutions, and government won't need to be taking loans on their behalf. Plus Nigerians need to pay their bills. Agreed, DISCOS need to give us meters, but many Nigerians refuse to pay their power bills. As a result discos don't have enough cash, and this impacts their ability to take loans from banks, meaning that the World Bank has to step in. Sometimes, Nigerians sabotage themselves. 3 Likes |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Jlow2: 1:54pm On Jun 24, 2020 |
Pls dey should send supervisors to monitor the projects 1 Like |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Olominira(m): 1:55pm On Jun 24, 2020 |
Xisnin:You're right, but doesn't control the bank. That's the difference |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Macphenson: 2:02pm On Jun 24, 2020 |
Good |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Xisnin(m): 2:22pm On Jun 24, 2020 |
Olominira:No one really controls the bank. It is like the UN, some have more influence but more rely on other top members to make a decision. 2 Likes |
Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Nobody: 3:06pm On Jun 24, 2020 |
I wonder, is Mr President trying to set a record for collecting loans among Nigerian presidents 1 Like
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Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Andrew13: 3:08pm On Jun 24, 2020 |
Before d money reach yer, our ogass at d top don loot am sharp sharp
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Re: World Bank Approves $750m Loan To Improve Electricity In Nigeria by Racoon(m): 6:42pm On Jun 24, 2020 |
Lalasticlala OAM4J |
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