AfDB Approves $200 Million Loan for Nigeria

The African Development Bank (AfDB) has provided $200 million (KSh20.5 billion) to Nigeria’s Rural Electrification Authority (REA), to aid in providing 500,000 Nigerians in 105,000 rural households with off-grid electricity.

The distribution of the project’s funding is as follows:

• Solar Hybrid Mini Grids – $70 million
• Energy-Efficient Appliances for Productive Use – $20 million
• Phase three of the Energizing Education Program – $100 million
• Technical assistance and capacity building – $10 million

Other institutions that will benefit from the electrification process are eight universities and 20,000 MSMEs.

According to REA, the project will commence in the next five months.

In December last year, AfDB approved another $210 million for Nigeria, aimed at helping it build a 330KV double circuit quad transmission line and sub-stations across the country, so as to upgrade its electricity transmission and distribution network.

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