Business

Tinubu Announces Nigeria’s $1.1bn AfDB Loan to Power 5 Million People by 2026

today01/29/2025 4

Background
share close

Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) for the provision of electricity for 5 million people by the end of 2026.

President Bola Tinubu made this known in a speech presented by Adebayo Adelabu, Minister of Power, at the just concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.

Tinubu also stated that the AfDB’s $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.

Meanwhile, the president of Nigeria is also expecting to get the planned $1.2 billion AfDB investment in the Nigeria Desert to Power program and facility for the Nigeria-Grid Battery Energy Storage System.

Written by: bossgmsi

Rate it

Previous post

World

ECOWAS keeps borders open for Burkina Faso, Mali, Niger

The Economic Community of West African States has announced that despite the official withdrawal of Burkina Faso, Mali, and Niger from the bloc on Wednesday (today), citizens and businesses from these countries will continue to enjoy key benefits of membership in order to maintain regional stability. ECOWAS assured that passports and identity cards bearing its logo will remain valid for travel within the region. While trade and economic activities will […]

today01/29/2025 2

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

0%
Our customer support team is here to answer your questions.
error: Alert: Content is protected !!