World Bank in talks with FG over increased availability of power in Nigeria

The World Bank says it is in talks with the Federal Government over increased availability of power in the country.

Mr Joaquim Levy, the Managing Director and Group Chief Financial Officer, World Bank, told the News Agency of Nigeria (NAN) in Lagos on Monday that power was important to the development of businesses and the country.

“Power is one of the things that we are working together with the government. Power is so important for of course, households but also for business because there is no how you can produce and you don’t have power.

“But it is a very complex sector, not only in Nigeria, in many countries you have to organise all the parts – distribution, who pays what, how you will get generation.

“It’s a complex thing, but the government is very committed and I think the private sector is also willing to come in and invest.

“So, we are in conversations, my colleagues are in Abuja so that we can have changes in the way the sector operates that will increase the amount and availability of power.

“This is our goal, to ensure affordable, reliable energy for business and for households.

“And our experience in many countries is that, if you get this, people will be willing to pay for it which will also make a good preposition for investors.”