The Federal Government has been granted $200 million loan for the funding of the nation’s electrification project.“The Board of Directors of the African Development Bank Group has approved a $150 million sovereign loan to the Federal Government of Nigeria to finance the Nigeria Electrification Project (NEP),” AfDB said in a statement.

“The Africa Growing Together Fund (AGTF), a $2 billion facility sponsored by the People’s Bank of China and administered by the African Development Bank, has also approved a $50 million loan to the Federal Government of Nigeria to co-finance the project.”

According to the statement, the joint financing is targeted at supporting the government efforts to address critical energy access deficit in the country, and catalyze achievement of universal energy access by 2030 targets.”

In 2017, the World Bank approved $350 million loan to Nigeria for the development of rural electrification projects in the country.“By supporting the electrification of unconnected and underserved communities, NEP will contribute materially to their economic development,” said the Managing Director of the rural electrification agency, Damilola Ogunbiyi.“Access to reliable, affordable and clean electricity will result in savings for households and businesses, which can be deployed to other uses.”

https://www.akelicious.net/2018/12/nigeria-gets-fresh-200m-loan-to-finance.html

Anoda loan collected, and dis one in particular is going down d drain... Between last year and dis year over $500 million in loan for rural electrification?

I just hope one day these countries borrowing us money here and there won't come out one day to claim Nigeria and Nigerians belongs to them, e for better make we just sell this country to China

Nbote:
Anoda loan collected, and dis one in particular is going down d drain... Between last year and dis year over $500 million in loan for rural electrification?

Most of these loans haven't been accessed and a lot of paper work still has to be done. I guess most of us are always in a hurry to criticize the goverment without really understanding the dynamics and processes involved.

They'd surely murder consumers with their outrageous and evil estimated billings to pay back this loan even in the.midst of sharing darkness nationwide.

Evil utility company.

Ehiscotch:


Most of these loans haven't been accessed and a lot of paper work still has to be done. I guess most of us are always in a hurry to criticize the goverment without really understanding the dynamics and processes involved.

Oga do U know what world bank actually promised Nigeria is about $2.1Billion and as such went ahead to release $350m out of it which is to b used in health sector for vaccinations, power sector for rural electrification and then to boost small and medium businesses.. U shld get ur facts ryt before ur hands get itchy... Here's from world bank
https://www.thisdaylive.com/index.php/2017/12/06/world-bank-lends-nigeria-350m-for-rural-electrification-projects/?amp