Nigeria secures $1.1bn AfDB loan for power supply to 5m people by 2026

The Federal Government has secured a $1.1 billion credit facility from African Development Bank (AfDB) to provide electricity for five million people in Nigeria by 2026.

President Bola Tinubu disclosed this at the just concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.

The president, according to a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, also revealed that the bank’s $200 million investment in the Nigeria Electrification Project would provide electricity for 500,000 people by the end of this year.