The African Development Bank (AFDB) has announced their plans to invest the sum of $200 million to boost the electricity supply in Nigeria through the Rural Electricity Agency (REA).
The Acting Vice President, Power, Energy, Climate and Green Growth Complex of the African Development Bank, Mr Wale Shonibare revealed this information yesterday during his visit to Abuja to the Minister of State for power, Goddy Jedy – Agba.
Mr Wale Shonibare said that the African Development Bank (AFDB) is very active in developing the Nigerian Power Sector and as such the African Development Bank board has approved the $200 million to support the roll out of mini-grids through the Rural Electrification Agency (REA)
The phases one aspect of the development to provide substations and transmission lines and they are also interested to encourage the productive use of the mini grids to upgrade communities across the country.
Mr. Goddy Jedy – Agba, the Minister of State for Power said that he believed that Nigeria could improve and develop her technology sector then they could do the same thing for the power sector. Also he pointed out that the development of the power sector would be the foundation for the development of other sectors in Nigeria.
