In spite of the N4 trillion debt owed the electricity sector, the Federal Government has again obtained a $500 million loan from World Bank to finance the upgrade of distribution infrastructure network.
Speaking to journalists at the Senior Leadership Retreat of Nigerian Independent System Operator (NISO) in Abuja, recently, Director General of Bureau of Public Enterprises (BPE), Ayodeji Gbeleyi, said that this will enable the sector provide 3.2 million meters for Nigeria.
Gbeleyi noted that the move is another piece of reform and that is a significant component of the president’s renewed hope agenda in terms of promise made and promise fulfilled.
“The birth of NISO has been on the drawing board for over 13 years. When the BPE embarked on the reform of the Nigerian electricity supply industry (NESI), the reality was birthed in May of last year, when NISO was also registered by the BPE, subsequent to the ascent to the electricity act in June 2023 by the president.”
