Nigeria has gotten approval for a $1.1 billion loan from the African Development Bank.
The country’s president, Bola Ahmed Tinubu made this known at the just-concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.
The president who spoke through Nigeria’s Minister of Power, Adebayo Adelabu revealed that the money is meant to provide electricity for 5 million people by the end of 2026.
This comes as the country also secured AfDB’s $200 million for the Nigerian Electrification Project aimed at providing 500,000 people electricity by the end of 2025.
In a statement, one of president Tinubu’s media aide, Bayo Onanuga, expressed the believe that the fund would help Nigeria close the energy access gap in the country.
The statement expressed the commitment of the Nigeria’s president to make energy access a priority.
Meanwhile, President Tinubu has returned to Abuja on Tuesday after attending the two-day energy summit in Tanzania.
