The World Bank and some multilateral agencies in Washington have applauded Babatunde Fashola’s power sector recovery plan, offering financial support.
According to Kemi Adeosun, the head of Nigeria’s delegation to the World Bank, IMF meetings in Washington, the multilateral agencies said the plan is realistic.
In a meeting with the agencies, Fashola was said to have presented the power plan, which was approved by the federal executive council, only about a month, and secured the support of the financial institutions.
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“What the power sector recovery plan has done is to look at all the problems really honestly. The multilateral agencies have looked at the plan we have put together and they like it because, as they said — it is realistic,” Adeosun said at a press briefing in Washington.
“We have really dimensioned all the issues from GenCos to DisCos to end users to metering, and one thing that everybody is very clear of is that it is a big problem.
“So it is a large problem that will take some time to solve, but the most important thing is that there are milestones of what we are expecting to see.
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“The multilateral agencies have pledged their support financially, because those investments are tied to certain results. For example, if you look at the issues around the transmission, power is generated, but cant be evacuated because the transmission capacity is not there. So, just investing in the transmission capacity in certain areas will change the power outlook.”
She added that “from the impression I got yesterday from the meeting,they were optimistic that if we actually implement what we’ve planned, and the minister of power works and housing was very emphatic that he is going to drive the implementation”.
“I feel quite optimistic that it is realistic. We are not saying throw away your generator by December, it is a realistic plan, but it is going to take time.
“If we have power, a lot of factories that have closed down can re-open. So, it ties with our Economic and Recovery Growth Plan.”
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3 comments
We all know that fashola is a genious, amongst the best politicians of our time but what we don’t understand is why the so-called federal executive council waits this long before they could approve his proposal….because nigerians who knew Fashola as former Lagos state governor know that if really given chance he will perform but unforfunately Nigeria govt is too slow in getting things done. What would take advance countries two yrs to achieve with the same available money and time would take Nigeria six to ten yrs bc, one, bureacracy, two, vested interest, three they are not even sure of what they doing…example of these are: Nigerian undergraduates dont complete fours programms until like 6-7 yrs; Ajaokuta that could have been completed in just 4-5 yrs betw. 1978-82,83 of Gen. Obasanjo tunure and 2nd republic president Shagari could not be completed til today bc Gen. Buhari tookover the govt and did nothing; Lagos state should by now be proud of subway or underground train totally resolve traffic problem but its now history bc Gen. Buhari tookover in 1984 and killed the lagosians dream; machine tools industry at Oshogbo could not see the light of the day bc of politics even India govt promised to give Shagari govt $500,000 assistance, which was big money then, our govt killed the project, this is why things dont work in that country. And this is why people are migrating in great numbers. So unless Fashola go to the mountain for prayers, maybe with fasting this also may not happen and it would be an embarrassment to him bc these politician dont care abot nigeria success but only their pocket, and until nigerians wake up from their sleep and ask their leaders open questions things nay remain the same.
I have not seen Fashola’s plan. But we should not plung the Nation into World Bank and IMF loans because they will come with their conditions. We should should be allowed to generate our electricity the cheapest possible way. Gas is clean and cheap. If coal is available and cheap (even if it is not so clean), let us use it.
what about the issue of allowing residence to be purchasing transformer for themselves.