A World Bank loan of $486 million dollars this Friday was approved to Nigeria for electricity grid improvements.
The representative also included that, “The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power.”
This comes at a time when economists and other concerned bodies have constantly criticised the power sector for holding back the nation’s economic growth.
The incessant blackouts that plague businesses and households have led most to resort to generators, which not only consume fuel but equally constitutes environmental pollution.
Hopefully, the credit would help set the Nigerian electricity right, and bring the expected change the citizens hope for.