The Federal Government has insisted the implementation of the Rural Electrification Agency (REA) and African Development Bank..
The Federal Government has insisted the implementation of the Rural Electrification Agency and African Development Bank $200million projects and other development agencies’ projects must be local content compliant to stimulate the economy.
The Special Adviser to President Muhammadu Buhari on Power, Mr. Ahmed Zakari, who represented the minister, said: “There is a significant concern globally on the economic outlook as a result of the coronavirus and particularly for us in Nigeria due to price of oil. On the $200million loan project from the AfDB, its Acting Vice President, Power, Energy, Climate and Green Growth Complex, Mr. Wale Shonibare, said the bank was intervening in different segments of the power value chain.
He said among the interventions of the bank were also “the over USD 1.0 million grant from the Sustainable Energy Fund for Africa to support the Nigerian Government’s implementation of Phase 1 of the Jigawa Solar IPP Procurement Programme which is in progress, the Partial Risk Guarantee and the USD 200 million loan to support the implementation of the Nigeria Electrification Program which we are launching today .
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