AfDB Approves $210 Million Financing For Nigeria’s Transmission Expansion Project
The African Development Bank Group (AfDB) has approved $210 million financing to the Federal Republic of Nigeria to fund the Nigeria Transmission Expansion Project (NTEP-1) in a bid to improve the capacity and reliability of the country’s transmission grid.
The AfDB’s financing involves $160 million loan as well as an additional $50 million
financing from the Africa Growing Together Fund. The NTEP-1 developed by the Transmission Company of Nigeria, forms a part of $1.6 billion Transmission Rehabilitation and Expansion Programme (TREP).
By rehabilitating and upgrading the electricity transmission substations and lines, the TREP aims to increase power transmission network while improving power supply to consumers.
The NTEP-1 project will run across the states of Kano, Kaduna, Delta, Edo, Anambra, Imo, and Abia to improve the Nigerian transmission grid’s capacity. AfDB Nigeria senior director Ebrima Faal said, “Nigerians and their businesses spend
$14 billion annually on inefficient and expensive petrol or diesel-powered generators. This project will contribute significantly to the reduction of Nigeria’s power deficit, decrease air and noise pollution and reduce the cost of doing business.”
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