The African Development Bank will continue to support Nigeria’s Power Sector Recovery Program (PSRP) through the provision of technical intervention and addressing governance issues to ensure full implementation of the programme.
The bank has undertaken a mission to hold further discussions on Nigeria’s PSRP with several stakeholders in Abuja recently.
According to Fatimah Abubakar Alkali, the Senior Communications Officer, Nigeria Country Office, the high-level mission was led by Amadou Hott, the Bank’s Vice-President for Power, Energy, Climate Change and Green Growth.
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Furthermore the programme was designed to promote energy access to rural communities. This is mostly through the provision of technical assistance, development of innovative financing products and expansion of the transmission grid, so as to improve revenue generation by the distribution companies.
Energy startegy
The energy strategy of the African Development Bank’s identifies energy not only as crucial for the attainment of health and education outcomes, but also for industrialization, reducing the cost of doing business, for unlocking economic potential and creating jobs.
Furthermore, AFDB is willing to support Nigeria in the effective and efficient implementation of the country’s Power Sector Recovery Programme.
According to Akinwumi Adesina, President of the African Development Bank, It is time for Africa to take a decisive action light up and power Africa. “Additionally, Africa has to accelerate its pace of economic transformation, unlock the potential of businesses, and drive much-needed industrialization to create jobs,” he added.
