The Federal Government has assured Nigerians that from 2018, the country will have access to a minimum baseline daily power supply of 4,500Mega Watts (MW). This will be realized through the implementation of the Power Sector Recovery Programme (PSRP),
The government also mandates the PSRP to give priority to both operational and technical interventions in ensuring the stability of the national grid.
In a document from the coordinators of the programme obtained by newsmen in Abuja, the PSRP was designed to strengthen the institutional framework of the nation’s power sector and improve supply of power and reliability to meet growing demand of electricity consumers in the country.
Among the many objectives of the PSRP includes; improve performance of the Distribution Companies (DisCos) through a balance approach of incentive regulation, address major issues constraining gas availability to the sector, notably, pipeline vandalism and payment arrears due to gas suppliers, as well as step up monitoring and enforcement processes to ensure aggressive reduction of technical and commercial losses.
According to the document, the World Bank had also expressed willingness to assist the Nigerian government with $2.5 billion, adding that action plans were being taken by government to facilitate the release of the fund.
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