FG Secures $1.1 Billion AfDB Loan To Power 5 Million People By 2026
The Federal Government has secured a $1.1 billion loan from African Development Bank, AfDB, to provide electricity for 5 million people by the end of 2026.
Special Adviser to the President, (Information & Strategy), bayo Onanuga, who disclosed this in a statement, said President Bola Tinubu made this known 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 would provide electricity for 500,000 people by the end of 2025.
Tinubu, whose speech was delivered by the Minister of Power, Adebayo Adelabu, said: “I (Tinubu) acknowledged AfDB’s $1.1 billion, expected to provide electricity for 5 million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.
