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Subsidy proves costly as World Bank walks away from Nigeria power deal - BUSINESSDAY
“The federal government and the World Bank agreed to cancel $717.7 million in undisbursed financing under the Power Sector Recovery Performance-Based Operation, a program the lender had built over five years and more than a billion dollars to rescue one of Africa's most dysfunctional electricity markets. The World Bank agreed on March 26, 2026. The program's closing date, originally set for June 2027, was pulled forward to May 31, 2026, more than a year early, and with most of its ambitions unmet.
