FG secures AfDB $250m rural electrification funds to tackle energy crisis

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Minister for Power, Adebayo Adelabu has announced that the African Development Bank has pledged to disburse a previously approved $250 million fund for

the Nigeria Electrification Project under the Rural Electrification Agency to tackle the energy crisis.According to him, the President, Dr Akinwunmi Adeshina, made this commitment after a meeting at the ongoing “Just Energy Transition and Agricultural Transportation for Africa” conference in Busan, South Korea.

He said: “This initiative establishes operational capacity across the entire value chain, facilitating project prioritization. AfDB also confirmed readiness to disburse a previously approved $250 million fund for the Nigeria Electrification Project under the Rural Electrification Agency and extended support to Northern Nigerian states through the $20 billion 10,000MW Northern Africa Desert to Power fund”.

DAILY POST recalls that on Thursday Nigeria suffered a national grid collapse but was restored after hours of power blackout.

 

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