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The Nigeria Electrification Project (NEP) is being financed through $350 million IDA credits from the World Bank. The goal is to be able to provide long-term and reliable electricity to households, small and medium enterprises, universities, and teaching hospital through solar hybrid mini grids and stand-alone solar systems. [ 19 ]
This project was born out of the request for assistance made by President Goodluck Ebele Jonathan to World Bank in 2010. He requested for assistance in tackling severe gully erosion in Southern Nigeria, land degradation in Northern Nigeria and environmental insecurity. [2] [3] The project is being monitored by the Federal Ministry of Environment.
In 2012, the World Bank approved a US$400 million National Urban Water Sector Reform Project for Lagos, Kaduna, Ogun, Enugu and Cross River States. In 2021, the World Bank approved a loan for $700 million [ 74 ] for water and sanitation as part of a programme called SURWASH.
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
The World Bank Group is the globe's most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people.
World Bank projects cover a range of areas from building schools to fighting disease, providing water and electricity, and environmental protection, and as such, they are linked to most of the Sustainable Development Goals. [5] The World Bank has been criticized as promoting inflation and harming economic development.
The World Bank Group is the globe’s most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people.
The project began in 1982, when the Economic Community of West African States (ECOWAS) proposed the development of a natural gas pipeline throughout West Africa. In 1991, a feasibility report conducted by the World Bank on supplying Nigerian gas to West African markets deemed that a project was commercially viable.