World Bank pledges to support Nigeria's power sector

World Bank pledges to support Nigeria's power sector

Monday, June 23, 2014 5:07 pm

Abuja, June 24, 2014 (NAN) The World Bank has pledged continued support for the development of Nigeria’s power sector following the successful privatisation of the sector.

The pledge is contained in a statement issued by Mrs Patricia Deworitshe, the Assistant Director, Press, Ministry of Power, on Monday in Abuja.

The statement quoted the outgoing Country Director of World Bank, Mr Erik Fernstrom, as making the pledge at a send forth dinner organised for him on Sunday in Abuja.

Deworitshe said Fernstrom had commended the Federal Government for the courage at privatising the sector, noting that the success of the exercise had put an end to the doubts of many.

Fernstrom then urged Nigerians to be patient for the full manifestation of the dividends of the exercise, saying it would take a while before the full dividends of the privatisation would be realised.

The Leader of the Energy Working Group in Nigeria, Mr Patrick Kormawa, also the Country Representative of UNIDO in Nigeria, commended Fernstrom’s contributions to the development of the sector.

He applauded Nigeria for keeping faith with the privatisation process.

“This ambitious programme as it is called, has proven to the world that Nigeria is serious and I wish that more sectors can be like the power sector in terms of magnitude,” he said.

The Permanent Secretary, Ministry of Power, Mr Godknows Igali, also commended Fernstrom for the interest in the development of Nigeria.

He said “we value your contributions to the development of the power sector in Nigeria.

“The outgoing World Bank Country Director, Mr Erik Fernstrom, did so much to build an enabling environment for sustainable power reform in Nigeria.’’

He expressed Nigeria’s gratitude to him and asked for more assistance from U.S. President, Barack Obama’s “Power Africa Initiative”.


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