AfDB signs $200m for Nigeria’s power transmission projects

The African Development Bank has signed for the release of $200m to Nigeria for the expansion of the country’s power transmission infrastructure.

It was gathered in Abuja on Monday that the fund signed last week by the bank’s management would be used under the Nigeria’s Transmission Expansion Programme.

Shonibare said, “We’ve come to recap the progress we are making with our several investments within the power sector in Nigeria around the Nigeria Electrification Project, working with the Rural Electrification Agency where our board approved $200m. When asked to state when the $200m was approved for the transmission expansion programme, Shonibare replied, “For the NTEP programme, it was signed last week and so the investments will start flowing into the sector very soon.

On the REA programme with the bank, he said, “That has already been signed and it is under implementation as we speak. In fact, I am here to flag off the beginning of that programme for the REA.”

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