Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to provide electricity for 5 million people by the end of 2026.
President Bola Tinubu announced this during the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania. The funding aims to bridge Nigeria’s energy access gap and advance the country’s electrification efforts.
Additionally, Nigeria has obtained a separate $200 million facility from the AfDB for the Nigerian Electrification Project, which is expected to provide electricity to 500,000 people by the end of 2025.
President Tinubu emphasized his commitment to making energy access a top priority for his administration.
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