Nigeria Seeks $3 Billion From World Bank to Tackle Power Crisis
- Indebted power companies rely on government bailouts
- Nigeria seeks combination of reforms and financing for power
A worker sets up street lamp in the market area of the Oshodi district in Lagos.
Photographer: Pius Utomi Ekpei/AFP via Getty Images
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Nigeria plans to use a $3 billion loan it’s negotiating with the World Bank to tackle mounting debt in the power sector that risks the collapse of companies running the national grid.