By 2026, 5 million people in Nigeria will have access to electricity thanks to a $1.1 billion loan from the African Development Bank (AfDB).
According to Bayo Onanuga, Special Adviser to the President, (Information &, Strategy),  , President Bola Tinubu made this known in a speech presented by Adebayo Adelabu, Minister of Power, at the just concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.
By the end of 2025, Tinubu added that 500, 000 people will have access to electricity thanks to the AfDB’s $ 200 million project in the Nigeria Electrification Project.
“I (Tinubu) acknowledged AfDB’s $1.1 billion, expected to provide electricity for 5 million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500, 000 people by the end of 2025.
” This is an ambitious goal, but we can achieve it together, “Tinubu said”. As Nigeria’s President, I am committed to making energy access a top priority. “
READ ALSO: Nigeria Considers Fresh Energy Subsidy In $15bn Investor Pitch – Report
Meanwhile, the Nigerian president anticipates receiving the $1.2 billion AfDB facility for the Nigeria-Grid Battery Energy Storage System and the planned Nigerian Desert to Power program.
We also anticipate the AfDB’s $ 700 million investment in the Nigeria Desert to Power initiative and its $ 500 million facility for the Nigeria-Grid Battery Energy Storage System, which will supply electricity to an additional two million people, said Tinubu.
We have also begun making plans to use the World Bank’s $750 million to expand Nigeria’s distributed energy access, adding that 16.2 million people will have access to power through standalone solar systems and mini-grids, “we have begun making plans.”
President Tinubu thanked Ajay Banga, President of the World Bank Group, and Akinwunmi Adesina of AfDB for their transformative vision, which he said” will light up and power Africa. “
He also praised the contributions of the Rockefeller Foundation, Global Energy Alliance for Development, and UN Sustainable Energy For All.
“Africa has a lot of energy resources, but millions of people still don’t have access to reliable, affordable energy, as we all know.
Source: Channels TV
Leave a Reply