FG Vows on Improved Electricity Supply with Fresh $200m Support Fund

FG Vows on Improved Electricity Supply with Fresh $200m Support Fund

The federal government vows that about 500,000 people without electricity in Nigeria would be able to have access to power in no far time as it plans to spend about $200 million on providing electricity for about 105,000 households nationwide. The initiative is in continuation of its rural electrification plans a weekly roundup of developments

The federal government vows that about 500,000 people without electricity in Nigeria would be able to have access to power in no far time as it plans to spend about $200 million on providing electricity for about 105,000 households nationwide.

The initiative is in continuation of its rural electrification plans a weekly roundup of developments in the country’s power sector by the Ministry of Power, Works and Housing, Minister of Finance, Zainab Ahmed, to have stated this recently in Abuja, at the Federal Executive Council (FEC).

Ahmed, explained that $150 million would come from the African Development Bank (AfDB), to be spent specifically on rural electrification projects while another $50 million would come from Africa Grow Together Fund for other electrification projects.

She added that FEC approved the request to obtain the $150 million AfDB loan to finance the country’s rural electrification project, adding that other funds to execute power transmission projects in the country were also approved by FEC.

She noted: “The project aligns with the strategy of the federal government on electrification of rural communities. The project has four components: First is solar hybrid mini-grid for rural economic development; the second is productive appliances equipment for off-grid communities, and the third is energizing education while the fourth component is institutional capacity building.

“The impact of the project when fully implemented will enable eight universities benefit from this scheme, and about 20,000 small, micro, medium enterprises across different communities in the nation. About 500,000 people and 105,000 households will also be able to have access to electricity. The maximum power that will be generated will be 76.5 megawatts installed generating capacity the minister added.

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