The World Bank Group says it will support reforms to Nigeria's electricity tariff and subsidy frameworks as part of efforts to restore financial sustainability in the power sector.
The World Bank disclosed this in its Country Partnership Framework for Nigeria, covering the 2026 to 2032 fiscal period.
According to the document, the intervention will focus on improving electricity access and reliability for households and businesses through both on grid and off grid solutions. The initiative is also expected to support Nigeria's targets under the Mission 300 Compact.
The World Bank said it would support reforms in tariff and subsidy frameworks, competitive investment planning and effective regulation of the electricity sector.
The development finance institution noted that Nigeria currently has the world's largest electricity access deficit, with more than 86 million people without access to electricity.
Source: Punch