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Following a loan agreement with the Export-Import Bank of China, Nigeria plans to build a $5.
8 billion hydropower plant
in the eastern Mambila region this year.
Nigeria's Minister of Electricity, Babatunde Fashola, said, "We hope that if we can complete the financing, we can break this situation this year
.
" ”
According to reports, the $5.
8 billion hydropower station will be funded by 85% by China, with the Nigerian government bearing
the rest.
Nigeria, a country of 180 million people, is looking to expand power generation to drive growth
in order to promote local economic and social development.
Fashola said in an interview that the government expects domestic power generation to increase from the current 7,000 megawatts to 8,600 megawatts
per year.
In contrast, South Africa, which accounts for one-third of Nigeria's population, has more than 40,000 megawatts
of power generation capacity.
In addition to increasing power generation, Nigeria also plans to improve domestic transmission and distribution infrastructure
.
At present, the domestic transmission and distribution infrastructure capacity is only 5,000 megawatts
.
As power generation increases, if the supporting infrastructure is not improved, then some power generation facilities will remain idle
.
Fasola said the government is looking to partner with private companies to invest in mini-grid projects and add another 3,000 megawatts of transmission and distribution capacity
over five years.
Following a loan agreement with the Export-Import Bank of China, Nigeria plans to build a $5.
8 billion hydropower plant
in the eastern Mambila region this year.
Nigeria's Minister of Electricity, Babatunde Fashola, said, "We hope that if we can complete the financing, we can break this situation this year
.
" ”
According to reports, the $5.
8 billion hydropower station will be funded by 85% by China, with the Nigerian government bearing
the rest.
Nigeria, a country of 180 million people, is looking to expand power generation to drive growth
in order to promote local economic and social development.
Fashola said in an interview that the government expects domestic power generation to increase from the current 7,000 megawatts to 8,600 megawatts
per year.
In contrast, South Africa, which accounts for one-third of Nigeria's population, has more than 40,000 megawatts
of power generation capacity.
In addition to increasing power generation, Nigeria also plans to improve domestic transmission and distribution infrastructure
.
At present, the domestic transmission and distribution infrastructure capacity is only 5,000 megawatts
.
As power generation increases, if the supporting infrastructure is not improved, then some power generation facilities will remain idle
.
Fasola said the government is looking to partner with private companies to invest in mini-grid projects and add another 3,000 megawatts of transmission and distribution capacity
over five years.
