• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

AfDB to curtail Nigeria’s erratic power supply with $200 million

Chidinma Nwagbara by Chidinma Nwagbara
March 10, 2020
in Business News, Politics
Nigeria, others secure AfDB’s $20m to improve renewable energy , AfDB to curtail Nigeria’s erratic power supply with $200 million

Wale Shonibare, AfDB

Share on FacebookShare on TwitterShare on Linkedin

The African Development Bank (AfDB) has disclosed its plans to invest $200 million to boost power supply in Nigeria. The bank’s board approved the funds to the sector through the Rural Electrification Agency (REA).

The Acting Vice President of Power, Energy, Climate and Green Growth Complex (AFDB), Wale Shonibare, disclosed this when he led some management staff of the bank on a visit to the Minister of State for Power, Mr Goddy Jedy-Agba in Abuja.

National electricity grid collapses again, as NUEE suspends strike action , FG to increase electricity tariffs in order to improve power supply, Power: Liquidity crisis-same old story in 2020?, GenCos urges NBET to pay up N1 trillion debt, Electricity Tariff: FG, electricity stakeholders to work on equitable rate 

RelatedStories

Wale Edun pushes finance ministry directors to deliver 7% GDP growth 

FG to concession major national projects to repay loans – Finance minister 

May 30, 2025
AfDB, AI

AfDB flags Nigeria’s rising debt costs: 75% of revenue goes to interest payments 

May 29, 2025

Shonibare reiterated the bank’s commitment to the Nigerian power sector and its willingness to do more. He also talked about upcoming plans in the works, one of which involves creating a programme to dedicate power systems to Federal universities,

“The AFDB is very active in the power sector of Nigeria and we are ready to do more. The board has approved $200 million to the sector through the REA. We are supporting the programme to roll out mini-grids across the country and also to encourage productive use of the grids to upgrade communities

“We are also involved in energising education, a programme under which we are dedicating power systems to eight Federal universities,’’ he said as reported by The Nation.

[READ MORE: AfDB to support FERMA with $10 billion for roads, others)

Speaking further, Shonibare said the bank was also involved in the transmission sector of the country as it had a $410 million project to support transmission. According to him, $200 million has already been approved by AfDB board for phase one to improve transmission lines and provision of sub-stations.

Electricity tariff, The number of idle power plants in Nigeria rises to 10 , Nigeria, Canada to ink new $2.3b power deal , China to pay $261.4 million for production of Made-in-Nigeria transformers , GenCos to shut down over NBET's administrative charge  

“I understand that the agreement was signed last week and we expect the project to progress. We are involved in the Jigawa power project, we have approved a grant of one million dollars to support the feasibility study for phase one and the studies are almost completed,’’ he added.

Meanwhile, in a recent Nairametrics report, the AfDB had announced its assistance in promoting infrastructural development in the country by offering $10 billion to the Federal Roads Maintenance Agency (FERMA) for road and other infrastructure projects in Nigeria.


Follow us for Breaking News and Market Intelligence.
Tags: AfDBAfrican Development BankGoddy Jedy-AgbaNigerian power sectorOn the MoneyRural Electrification Agency
Chidinma Nwagbara

Chidinma Nwagbara

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - chidinma.nwagbara@nairametrics.ng

Related Posts

Wale Edun pushes finance ministry directors to deliver 7% GDP growth 
Economy

FG to concession major national projects to repay loans – Finance minister 

May 30, 2025
AfDB, AI
Economy

AfDB flags Nigeria’s rising debt costs: 75% of revenue goes to interest payments 

May 29, 2025
AfDB enters a $1bn exposure exchange agreement with Asian Development Bank
Economy

AfDB projects $39.84 billion decline in foreign funding to Africa by 2025 amid aid cuts 

May 29, 2025
Nigeria’s GDP per capita falls to $824, worse than 1960 levels – AfDB President Adesina
Business News

Presidency disputes AfDB President Adesina’s claim that Nigerians are worse off now than in 1960 

May 5, 2025
Power line
Corporate deals

REA signs agreement with 9 energy firms to provide electricity to 17.5 million Nigerians

April 29, 2025
Economy

Raw material exports keep Africa poor – AfDB president Adesina says 

April 17, 2025
Next Post
CHAMS Plc brings back Demola Aladekomo as Chairman following Dere Awosika’s resignation

CHAMS Plc brings back Demola Aladekomo as Chairman following Dere Awosika’s resignation

Leave a Reply Cancel reply

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

Emple
nlng
first bank








DUNS

Recent News

  • Toyin Abraham’s Iyalode nears N300 million at Nigeria box office 
  • GTCO CEO Segun Agbaje: Banks had ample notice on forbearance loans – CBN’s action no surprise
  • Hollywood’s “Jurassic World: Rebirth” debuts N52.5 million in Nigerian cinemas

Follow us on social media:

Recent News

Toyin Abraham’s Iyalode nears N300 million at Nigeria box office 

Toyin Abraham’s Iyalode nears N300 million at Nigeria box office 

July 12, 2025
Top 5 highest paid bank CEOs of 2022 

GTCO CEO Segun Agbaje: Banks had ample notice on forbearance loans – CBN’s action no surprise

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics