Inside Naija Blog

World Bank In Talks With Nigeria Over New $2.5 Billion Power Project Loan

World Bank’s Vice President for Africa, Hafez Ghanem

The World Bank says it is in talks with the Nigerian government for a $2.5 billion loan to resolve the problems of the country’s power sector.

World Bank’s Vice President for Africa, Hafez Ghanem said this while addressing journalists in Abuja, Bloomberg reported on Wednesday.

“We’re talking about a new set of programmes of about the same amount, it should be around $2.5 billion,” Mr Ghanem said.

He also said the loan would enable the Nigerian economy to be more competitive for the development of industries and the creation of jobs for youth in the country.

Oyewale Olamide

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