| Financier | Commitments |
|---|---|
| IDA Credit | 750.00 |
Power Sector Recovery Performance Based Operation
Abstract*
The objective of the Power Sector Recovery Operation (PSRO) for Nigeria is to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability. The Program will focus on three results areas. Results Area 1 will improve reliability of electricity supply. The PSRO includes a set of measures to ensure that at least 4,500 MWh/hour (megawatt hour) of electricity is supplied to the distribution grid... Show More
Development Objective
The objectives of the Operation are to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability.
Key Details
Project Details
P164001
Active
Daniel Camos Daurella , Arsh Sharma
Federal Republic of Nigeria
March 15, 2018
(as of board presentation)
June 23, 2020
December 17, 2020
US$ 750.00 million
Transmission Company of Nigeria,Budget Office of the Federation,Nigerian Bulk Electricity Trading,Nigerian Electricity Regulatory Commission
2020
US$ 750.00 million
C
June 11, 2024
June 30, 2027
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 750.00 |
| IBRD + IDA Commitment | 750.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 750.00 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Apr 1, 2022 | IDA-66990 | Int Charges | 298,193.06 |
| Jun 23, 2020 | IDA-66990 | Loan Commitment | 750,000,000.00 |
| Apr 1, 2023 | IDA-66990 | Int Charges | 1,597,814.00 |
| Apr 1, 2023 | IDA-66990 | Int Charges | 1,597,814.00 |
| Apr 1, 2023 | IDA-66990 | Int Charges | 2,822,045.00 |
| Apr 1, 2023 | IDA-66990 | Int Charges | 95,413.06 |
| Apr 1, 2023 | IDA-66990 | Int Charges | 95,413.06 |
| Oct 1, 2022 | IDA-66990 | Int Charges | 70,716.74 |
| Oct 1, 2022 | IDA-66990 | Int Charges | 994,073.56 |
| Oct 1, 2022 | IDA-66990 | Int Charges | 994,073.56 |
| Oct 1, 2022 | IDA-66990 | Int Charges | 1,656,789.20 |
| Nov 28, 2022 | IDA-66990 | Loan Disb | 246,770,688.00 |
| Dec 1, 2022 | IDA-66990 | Loan Disb | 1,000,000.00 |
| Mar 23, 2022 | IDA-66990 | Loan Disb | 191,693,632.00 |
| Apr 1, 2022 | IDA-66990 | Int Charges | 298,193.06 |
| Apr 1, 2022 | IDA-66990 | Int Charges | 420,718.84 |
| Oct 1, 2023 | IDA-66990 | Int Charges | 21,179.55 |
| Oct 1, 2023 | IDA-66990 | Int Charges | 21,179.55 |
| Oct 1, 2023 | IDA-66990 | Int Charges | 2,095,148.40 |
| Oct 1, 2023 | IDA-66990 | Int Charges | 2,095,148.40 |
| Oct 1, 2023 | IDA-66990 | Int Charges | 3,178,646.20 |
| Aug 16, 2023 | IDA-66990 | Loan Disb | 180,798,544.00 |
| Sep 4, 2024 | IDA-66990 | Loan Disb | 1,000,000.00 |
| May 2, 2024 | IDA-66990 | Int Charges | 349,401.88 |
| May 2, 2024 | IDA-66990 | Int Charges | 2,624,696.80 |
| May 2, 2024 | IDA-66990 | Int Charges | 2,624,696.80 |
| May 2, 2024 | IDA-66990 | Int Charges | 4,374,494.50 |
| Jun 19, 2024 | IBRD-94740 | Loan Disb | 1,122,500.00 |
| Jun 19, 2024 | IBRD-94740 | Fee Charges | 1,122,500.00 |
| Jun 9, 2023 | IDA-72680 | Loan Commitment | 301,000,000.00 |
| Jun 9, 2023 | IBRD-94740 | Loan Commitment | 449,000,000.00 |
| Nov 15, 2021 | IDA-66990 | Loan Disb | 95,624,504.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-06-21 |
| Monitoring and Evaluation | Satisfactory | 2024-06-21 |
| Overall Implementation Progress (IP) | Moderately Unsatisfactory | 2024-06-21 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Annual electricity supplied to the distribution grid is increased Value 26917.00 33674.00 39420.00 Date December 3, 2018 June 12, 2024 December 30, 2026 Comment Public awareness about ongoing power sector reforms and performance increases Value 13.00 14.00 40.00 Date December 3, 2018 June 12, 2024 December 30, 2022 Comment Annual tariff shortfalls Value Billion Naira 581 Billion Naira 651 0 Naira Date January 1, 2019 June 12, 2024 December 30, 2026 Comment Net greenhouse gas (GHG) emissions Value 49000.00 49000.00 774000.00 Date October 1, 2022 June 12, 2024 December 31, 2026 Comment Public awareness about ongoing power sector reforms and performance among women increases Value 10.00 4.00 30.00 Date December 3, 2018 June 12, 2024 December 30, 2022 Comment New tariff shortfalls are funded from non CBN sources once the PAF is depleted? Value 0.00 100.00 100.00 Date December 3, 2018 June 12, 2024 December 30, 2026 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Audited financial statements of DISCOs are published annually Value No Yes Yes Date December 3, 2018 December 31, 2022 December 30, 2022 Comment PIPs of DISCOs are implemented and monitored by NERC to remove the constraints to supply in their networks Value No Yes Yes Date December 3, 2018 June 12, 2024 December 31, 2026 Comment Revenue requirement of DISCOs is set consistent with semi-annual MYTO minor reviews and MYTO extraordinary review Value No Yes Yes Date December 3, 2018 June 12, 2024 December 30, 2022 Comment Key operational and financial data for the power sector are published quarterly on NERC website Value No Yes Yes Date December 3, 2018 December 29, 2023 December 30, 2022 Comment Business continuity arrangements for DISCOs are implemented: the lists of qualified experts (with minimum 20% of women) to take over DISCO management are updated annually Value No Yes Yes Date December 3, 2018 June 12, 2024 December 31, 2026 Comment End-user electricity tariffs are adjusted consistent with FGN approved PSRP Financing Plans Value No No Yes Date December 3, 2018 June 12, 2024 December 31, 2026 Comment Operational procedures of ISO are updated Value No No Yes Date October 1, 2022 November 1, 2023 December 31, 2024 Comment PIP of TCN is implemented and monitored by NERC to remove the constraints to supply in its network Value No Yes Yes Date October 1, 2022 November 1, 2023 December 31, 2026 Comment DISCOs’ recurrent payment obligations to NBET are paid Value 29.00 76.50 90.00 Date December 3, 2018 December 31, 2022 December 31, 2026 Comment NERC approves the Least Cost Power Development Plan Value No No Yes Date October 1, 2022 June 12, 2024 December 30, 2026 Comment Historical tariff shortfalls and associated interest are removed from DISCOs’ books Value No Yes Yes Date December 3, 2018 June 12, 2024 December 30, 2022 Comment Implementation of approved PIPs is enforced (scalable portion) Value Transmission system delivery capacity in 2021 is 7 Transmission system delivery capacity in 2021 is 7 Available installed transmission capacity (i.e., p Date October 1, 2022 November 1, 2023 December 31, 2026 Comment NERC approves updated Fit and Proper regulation Value No No Yes Date October 1, 2022 November 1, 2023 December 31, 2023 Comment Existing PPAs with NBET are being activated and enforced; bilateral contracting framework is strengthened and enforced (scalable portion) Value 13,683 GWH delivered to DISCOs in January-June 202 33,674 GWH delivered to DISCOs in 2023. Actual energy sent out to DisCos in January-Decemb Date October 1, 2022 June 12, 2024 December 31, 2026 Comment