Nigeria to borrow 600 million dollars for its power sector.
Mr. Sambo said this in Abuja at a special meeting on gas supply to power plants across the country.
He directed that any problem that might hinder the delivery of power, especially gas supply, should be addressed forthwith by relevant authorities.
On the power plant in Sapele, which was the subject of the meeting, the Vice President stressed the need to address the problem of gas supply to the plant.
He urged the experts handling the Sapele project to find lasting solutions to the problems.
He directed that another gas supply agreement be signed to meet up the volume of gas needed for the plant.
The Minister of Finance, Ngozi Okonjo-Iweala, told the meeting that the World Bank had approved $600 million credit facility for Nigeria to address some problems in the power sector.
Critics have often bemoaned Nigeria’s rising debt profile saying it is putting Nigeria’s economy on the wrong footing.
Mrs. Okonjo-Iweala, who is also the Coordinating Minister for the Economy, however, said that there is nothing wrong in getting the facility.