AfDB, AGTF plough $200m into Nigeria corrupt power
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| Buhari |
The project, which will be
implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to
achieve the target of universal energy access by 2030.
Joint financing of $200m from AfDB
and the Africa Growing Together Fund (AGTF) will de-risk and scale-up private
sector investment in the off-grid sector, nurturing a business ecosystem
conducive to the rapid electrification of Nigeria’s off-grid communities.
Speaking at the launch, Nigeria’s
Minister of State for Power, Goddy Jedy Agba, thanked the AfDB for investing in
the project and highlighted its transformative potential.
“Imagine the impact a project like
the NEP will have when it’s replicated across rural communities in the
country,” he said.
Acting vice president for power,
energy, climate change and green growth, AfDB, Wale Shonibare, outlined the
expected development outcomes of the project.
“Over 500,000 people will have access
to approximately 76.5MW of increased installed power of which 68MW will be
solar generated,” he said.
Eight universities will have
access to reliable energy, he added, and 150 female students will receive
training on renewable energy solutions. In addition, 20,000 micro, small and
medium-size enterprises (MSMEs) will be supplied with appliances and equipment.
Ebrima Faal, AfDB senior director
in Nigeria said the NEP and other AfDB-supported energy projects had been carefully
designed to ensure that Nigerians have better access to reliable, affordable
and safe power.
The Nigeria power sector is one of the most corrupt in the country with billions invested in it over years with no results to show for it and its reformation promised by the current administration of Muhammadu Buhari is also struggling for now.
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