The federal government has secured 500 million dollar loan from the World Bank to improve the performance electricity Distribution Companies (DisCos).

This was contained in a press statement issued by the Bureau of Public Enterprises (BPE), Head of Public Communication, AMINA TUKUR OTHMAN.

She said this funding supports the Nigerian Distribution Sector Recovery Program (DISREP) aimed at improving the financial and technical performance of the DisCos.

According to the statement, the purpose of the loan is to finance the procurement of meters, a Data Aggregation Platform, and Technical Assistance.

The BPE noted that the loan will also help achieve financial sustainability in the power sector and enhance transparency and accountability.