Mr Joaquim Levy, the Managing Director and Group Chief Financial Officer, World Bank, told reporters in Lagos that power was important to the development of businesses in Nigeria and said it is in talks with the Federal Government over the increased availability of power in the country, IWIN reports.

According to the World Bank chief, “Power is one of the things that we are working on together with the government. Power is so important for of course, households but also for business because there is no how you can produce and you don’t have power.”

“But it is a very complex sector, not only in Nigeria, in many countries, you have to organise all the parts – distribution, who pays what, how you will get generation. It`s a complex thing, but the government is very committed and I think the private sector is also willing to come in and invest.”

“So, we are in conversations, my colleagues are in Abuja so that we can have changes in the way the sector operates that will increase the amount and availability of power. This is our goal, to ensure affordable, reliable energy for business and for households.”