World Bank approves $486 million to boost Nigeria’s electricity supply

The World Bank on Friday announced a $486 million International Development Association credit to support the rehabilitation and upgrade of Nigeria’s electricity transmission substations and lines.

Although the Nigerian government has always said the country’s power generation capacity has increased to more than 7,000 megawatts, the challenge remained in the area of weak transmission infrastructure to evacuate available electricity to consumers.

In a statement sent to Premium Times on Friday, the spokesperson of the World Bank in Nigeria, Olufunke Olufon, said the approved credit would facilitate investments under the Nigeria Electricity Transmission Project.

Published in Premium Times Nigeria, 16th February, 2018