Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Nigeria Gets $800m Credit From Japan To Rehabilitate Jebba Power Plant

Nairametrics by Nairametrics
February 18, 2016
in Business News
Nigeria’s $5.6b NIPP privatisation stalls on gas shortages
Share on FacebookShare on TwitterShare on Linkedin

As part of its support for Nigeria’s power sector, the Japanese government has offered $800 million credit line to Nigeria that will be used to rehabilitate and extend the lifespan of the Jebba power plant.

Consequently, the federal government and the government of Japan are expected to firm up all relevant agreements that will ease the way for the 578.4 megawatts (MW) installed capacity Jebba hydro power plant to access the loan.

This was revealed during the commissioning of one of the plant’s turbines with a generation capacity of 96.4MW which was rehabilitated by Japan after a fire incident to increase the plants available generation capacity to 482MW.

RelatedPosts

Outlook for the Lagos Real Estate market in the second half of 2022

Is Real Estate a good hedge towards inflation in Africa’s real estate?

The deputy head of mission at the Japan Embassy, Mr Masaya Otsuka who spoke during the handing over of the overhauled unit of six generating turbines plant to Nigeria said the $800 million credit line will be used to rehabilitate and extend the lifespan of four extra units of the plant.

Otsuka noted that if approved under a government-to-government agreement, the loan will be used to refurbish the four generating turbines which have not undergone any form of mandatory overhaul since they were commissioned in 1983.

He explained that the loan is under the Tokyo International Conference on African Development (TICAD) framework, and will include 1.4 per cent concessionary rate for 40 years.

According to him, the repair work on the turbine which was commissioned by the minister of Power, Works and Housing, Mr Babatunde Fashola, was undertaken with N5.2 billion after it was burnt down in April 2009.

Related

Tags: Power SectorReal Estate News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • DEAL: Nigerian fintech startup, TeamApt raises over $50 million to expand into new markets
    • What crypto assets investors are buying in August amid ongoing bullish rally
    • Top 5 Nigerian insurtech startups by funds raised since 2021

    Follow us on social media:

    Recent News

    TeamApt - Nigerian fintech, TeamApt, to expand to the Americas later this year

    DEAL: Nigerian fintech startup, TeamApt raises over $50 million to expand into new markets

    August 11, 2022
    Top 5 cryptocurrencies to watch in May 2022

    What crypto assets investors are buying in August amid ongoing bullish rally

    August 11, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com