#NES27: Nigeria’s per capita income stagnates after 40 years —World Bank

43


#NES27: Nigeria's per capita income stagnates after 40 years —World Bank

By Emmanuel Elebeke, ABUJA

The country director, World Bank Group, Shubham Chaudhuri says Nigerians are ready to pay for the power if it is available and reliable, adding that Nigeria’s per capita income (PCI) is stagnant after 40 years, remaining at the same level in 2020 as it was in 1981.

Mr Chaudhuri stated this during a breakout panel session of the just concluded 27th National Economic Summit on Lightning Nigeria: A solutions Framework for Power Recovery” in Abuja.

He said the private sector has the capacity to provide the kind of constant electricity that Nigerians deserve if provided with the enabling environment.

The World Bank representative, however, said the government has a duty to create the much needed friendly policies and regulatory clarity to make it work.

READ ALSO: A stronger, more diversified private sector will speed Nigeria’s recovery

He cited a Niger community where locals paid as high as N135 per kilowatt hour for constant…



Source: Vanguard Newspaper

Get the Latest Business Tenders and Contracts Information