Nigeria - The Economic and Power Sector Reform Program (EPSERP)

The Energy Sector and Economic Reform Program (EPSERP) is the Bank's first budget support operation in Nigeria. The EPSERP is part of the second pillar of the Country Strategy Paper (CSP) 2005-2009, which aims to stimulate private-sector-led growth in the non-oil sector through infrastructure strengthening, agricultural and rural development. The programme will be implemented through two main components: (i) sustainable improvement of the electricity grid and the business environment; and (ii) sustainable growth through the implementation of sound macroeconomic policies and budgetary priorities. The expected outcomes of the EPSERP are: (i) continued macroeconomic stability; (ii) sustained growth in the non-oil sector; (iii) increased access to electricity; and (iv) an improved environment for private sector participation in the energy sector.