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Nigeria received an international loan of US$1.5 billion for the construction of its electricity transmission and distribution system

 Last Update: 2022-12-27
 Source: Internet
 Author: User

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The Nigerian Transmission Corporation recently announced that the Nigerian Transmission and Distribution System Expansion Project has received up to US$1.
5 billion in international loans
.

In February, the World Bank approved a $486 million loan
from international development agencies to upgrade Nigeria's transmission system.
At the same time, the African Development Bank provided $200 million for domestic power transmission projects, the Islamic Development Bank for $444 million and the Japan International Cooperation Agency for $200 million loans
.

Usman Mohammed, the company's chief executive, said domestic power outages are frequent due to weak power infrastructure and growing demand for electricity
.
In order to solve this problem, it is imperative to retrofit and expand the transmission and distribution system
.
So far this year, the company has secured a total of $1.
5 billion in international loans to help develop domestic transmission and distribution infrastructure
.

The Nigerian Transmission Corporation said in the announcement that the loan from the international community will help the domestic transmission and distribution infrastructure to be renovated and expanded, thereby improving the domestic power supply capacity and promoting economic and social development
.

The Nigerian Transmission Corporation recently announced that the Nigerian Transmission and Distribution System Expansion Project has received up to US$1.
5 billion in international loans
.

Transmission and distribution

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