Nigeria, May 26 -- The decision followed mounting tariff shortfalls, rising foreign exchange costs, and persistent operational setbacks across the sector.



The News Chronicle reports that the Federal Government and the World Bank agreed to discontinue the remaining funding under the Power Sector Recovery Operation program after reform targets failed to gain momentum.

The program, initially introduced to improve electricity supply and restore financial stability in the sector, will now close earlier than planned after authorities moved to halt further disbursements.



The World Bank apparently related the downturn to growing financial pressures brought on by the naira depreciation and the sharp increase in gas prices applied for pow...