Nigeria Secures $500 Million World Bank Loan to Boost Electricity Distribution

WRITTEN BY: CHIOMA MADONNA NDUKWU

The World Bank has approved a $500 million loan to support Nigeria’s electricity Distribution Companies (DisCos), aiming to address the financial challenges within this critical sector.

This concessional financing will fund the Nigerian Distribution Sector Recovery Program (DISREP), enhancing the technical and financial performance of the DisCos through capital investments and Performance Improvement Plans. The initiative seeks to reduce losses, improve power supply reliability, and foster transparency and accountability in the power sector.

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Chioma Ndukwu

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