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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.
