Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to provide electricity for 5 million people by the end of 2026.
President Bola Ahmed Tinubu made this known in a speech presented by the Minister of Power, Adebayo Adelabu, at the just concluded two-day Mission 300 Africa Energy Summit in Tanzania.
Tinubu stated that the AfDB’s $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of this year.
“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.
Tinubu also pledged his commitment to prioritize making energy access a top priority in the country and urged Nigerians to unite in achieving the ambitious goal.
