African Development Bank approves $210 M for Nigerian grid
Nigeria: Transmission Co. of Nigeria has secured $210 M funding from the African Development Bank to upgrade the nation’s dilapidated power lines and distribution infrastructure.
Nigeria: Transmission Co. of Nigeria has secured $210 M funding from the African Development Bank to upgrade the nation’s dilapidated power lines and distribution infrastructure.
The project, which is aimed at improving the reliability of Nigeria transmission grid in seven states — Kano, Kaduna, Delta, Edo, Anambra, Imo, and Abia — is part of a $1.6 B program, the AfDB said.
After the project is implemented, Nigeria is expected to reduce the amount of stranded power and increase evacuation capacity from the south of the country toward the north where power supply is limited, AfDB’s acting vice president for power and energy, Wale Shonibare said.
Electricity demand in Nigeria is more than double the current supply of about 5,000 MW offered by power companies, even though the country sold control of 14 of such firms in 2013 in order to attract private investment and reduce blackouts.
Source: Financial Post