World Bank approves $486m credit to Nigerian power grid work
World Bank has approved a 486 million dollars credit facility to Nigeria for electricity grid improvements, the lender said on Friday.
“The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said.
Nigeria’s power sector is often criticised by economists for holding back the country’s economic growth.
Businesses and households are subject to frequent blackouts, and many depend on their own generators that are expensive to run.
In this article
Related
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.