FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People - Politics

FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People (5208 Views)

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FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by adenigga(op): 2:44am On Jan 30, 2025

Nigeria has secured a $1.1 billion loan from the African Development Bank to provide electricity for 5 million people by the end of 2026.

President Bola Ahmed Tinubu disclosed this while speaking through the Minister of Power, Adebayo Adelabu, in the just-concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.

In a statement by Tinubu’s spokesperson, Bayo Onanuga, the fund would help Nigeria close the energy access gap in the country.

This comes as the country also secured AfDB’s $200 million for the Nigerian Electrification Project aimed at providing 500,000 people electricity by the end of 2025.

“I (Tinubu) acknowledged AfDB’s $1.1 billion, expected to provide electricity for 5 million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.

“This is an ambitious goal, but we can achieve it together.

“As Nigeria’s president, I am committed to making energy access a top priority,” the statement reads.

DAILY POST reports that President Tinubu on Tuesday returned to Abuja after attending the two-day energy summit in Tanzania.

Source: https://dailypost.ng/Nigeria-secures-$1.1-AfDB-loan-to-provide-electricity-for-5m-people

2 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by overall90: 2:56am On Jan 30, 2025

Provide electricity for five million people! How?
No mention of the state, town or area 😕
How are they going to get the five million people or are they going to do a cash transfer?

43 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Peakdesign23(f): 3:14am On Jan 30, 2025

Make una just dey play.

27 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Artscollection: 3:22am On Jan 30, 2025

All this institutions are part of the corruption, imagine borrowing these set of gangsters loan after loan with nothing to show for.

32 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by SpaceX: 4:48am On Jan 30, 2025

overall90:
Provide electricity for five million people! How?
No mention of the state, town or area 😕
How are they going to get the five million people or are they going to do a cash transfer?

Give them a little bit of time they are on chat-gpt trying to get a detailed explanation, please exercise some patience. I promise you the APC bots are actively on this case.....

43 Likes 1 Share

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Sheuns(m): 5:46am On Jan 30, 2025

2026 is almost here.

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by adetoya234: 5:57am On Jan 30, 2025

SpaceX:
Give them a little bit of time they are on chat-gpt trying to get a detailed explanation, please exercise some patience. I promise you the APC bots are actively on this case.....

3 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Blitzerz: 7:09am On Jan 30, 2025

All progressive Corruption

15 Likes 1 Share

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Dshocker(m): 7:09am On Jan 30, 2025

Rubbish... They will still seat in a round table and share the money within themselves.

18 Likes 1 Share

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by treatise: 7:10am On Jan 30, 2025

adenigga:
Source: https://dailypost.ng/Nigeria-secures-$1.1-AfDB-loan-to-provide-electricity-for-5m-people

It'd also be like monies given to power holding companies for the distribution of meters to consumers - consumers are even in search for meters they'd pay for without getting anymore

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Hemanwel(m): 7:10am On Jan 30, 2025

They said they've saved billions of naira from fuel subsidy removal; yet they keep looking for every avenue/opportunity to collect more loans.

You cannot use lies and propaganda to run the economy. It cannot work!

25 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by ZUBY77(m): 7:11am On Jan 30, 2025

Problem is if they will use it for the purpose.

2 Likes 1 Share

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by ruffhandu: 7:11am On Jan 30, 2025

Shameless government. Money one person steals in a day is what you are going to borrow and place the burden on the country, to steal it also. May all who bring suffering upon the people become cursed, a curse that will remain in their lineage for the next 100 to 200 years.

12 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by francisbarrack(m): 7:12am On Jan 30, 2025

Bole kaja government. Borrow borrow gov.

8 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by free2ryhme: 7:12am On Jan 30, 2025*

adenigga:
Source: https://dailypost.ng/Nigeria-secures-$1.1-AfDB-loan-to-provide-electricity-for-5m-people

However, it's hard not to think about the previous issues under the former Minister of Power. There were allegations of embezzlement and misuse of public funds, which have left many questioning whether such projects will be properly managed this time.

2 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by MasterJayJay: 7:13am On Jan 30, 2025

Money wey dey don divert already to private pockets.

6 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by zoedew: 7:15am On Jan 30, 2025

Akinwunmi in his capacity as Afdb topdog doing the best he can for Nigeria.

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Hisroyalbadmeat(m): 7:15am On Jan 30, 2025

Make dem share the money give us make we buy solar panels,if not Na Aluta continua sad

4 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by oluseyiforjesus(m): 7:15am On Jan 30, 2025

Lolz

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by mekleelex200(m): 7:17am On Jan 30, 2025

I hope is not 5 million wealthy people. Because I want to know how they come up with the number (5 million), that money can serve more than that capacity.

3 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by aceman88(m): 7:17am On Jan 30, 2025*

To avoid the money from being looted immediately, even before it drop, I suggest that the African development bank should liaise FG to run 20k transfer each to 5 million people to use and buy petrol to power their generators for a day. After all na still electricity.

After that,
Job done.
Billion dollars gone.

Life continues, na naija we dey.

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by IbnB: 7:19am On Jan 30, 2025

adenigga:
Source: https://dailypost.ng/Nigeria-secures-$1.1-AfDB-loan-to-provide-electricity-for-5m-people

Armed robbers

2 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Inspirer1: 7:22am On Jan 30, 2025

Hmmmmn

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by PEACE2023: 7:22am On Jan 30, 2025

adenigga:
Source: https://dailypost.ng/Nigeria-secures-$1.1-AfDB-loan-to-provide-electricity-for-5m-people

1.1D dollar's for only 5M people this is fraud.

2 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by updatedws: 7:24am On Jan 30, 2025

I thought dey already privatized electricity? Why borrow these humongous amount of money to invest in power sector that benefits only the private investors...

Tomorrow u see Gegeru powers and others declaring profits in multi billions of naira.

These guys are wicked

3 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by xynerise: 7:25am On Jan 30, 2025

ruffhandu:
Shameless government. Money one person steals in a day is what you are going to borrow and place the burden on the country, to steal it also. May all who bring suffering upon the people become cursed, a curse that will remain in their lineage for the next 100 to 200 years.

Curses don't work. You need to wake up from your dreams

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Dougad: 7:27am On Jan 30, 2025

For 25 years+, the Nigerian government has secured funding to provide electricity, and not once has it amounted to anything. It appears to me as nothing more than a well orchestrated money laundering scheme because they know their citizens will only clap their hands and say "Good job" instead of asking critical questions such as: What actually happened to the previous one?

5 Likes

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Looking4Trouble: 7:27am On Jan 30, 2025

Town cryers, where are thou?

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by uuzba(m): 7:29am On Jan 30, 2025

TO
I was reading the headline and I saw TO inside.
Next news please.

Re: FG Secures $1.1 Billion AFDB Loan To Provide Electricity For 5 Million People by Looking4Trouble: 7:29am On Jan 30, 2025

overall90:
Provide electricity for five million people! How?
No mention of the state, town or area 😕
How are they going to get the five million people or are they going to do a cash transfer?

No let Ogun kee you oooo

1 2 3 Reply

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