Nigeria’s national grid has suffered 105 collapses in the past decade, despite the major investments made to stabilize the power sector under the administrations of President Bola Tinubu and his predecessor, Muhammadu Buhari.
According to findings reported by The PUNCH on Sunday, Nigeria secured approximately 10 loans worth $4.36 billion from the World Bank in the last ten years to address key power sector challenges.
While not all of these loans have been fully disbursed, the Federal Government, alongside other multilateral organizations, has injected billions of naira into the sector in an attempt to stabilize it.
However, despite these funds, the national grid has continued to experience frequent failures, leaving large parts of the country in darkness and hindering economic activities.
Both Buhari and Tinubu, leaders of the All Progressives Congress, made commitments to improve the power sector.
Yet, the sector’s persistent challenges appear to have outpaced the efforts…