The African Development Bank (AfDB) is to invest $200 million through the Nigerian Rural Electrification Agency (REA) to boost power supply in the country.
Mr. Wale Shonibare, the Acting Vice President, Power, Energy, Climate and Green Growth Complex (AFDB), said when he led some management staff of the bank on a visit to the Minister of State for Power, Mr. Goddy Jedy-Agba in Abuja.
Shonibare, who is also the Director, Energy and Installation in the bank, said that the AfDB board had approved 200 million dollars for the sector through the REA to support the roll out of mini grids.
“We are supporting the programme to roll out mini grids across the country and also to encourage productive use of the grids to upgrade communities
“We are also involved in energising education, a programme under which we are dedicating power systems to eight Federal universities,’’ he said.
Shonobare said that the bank was also very involved in the transmission sector of the country as it had a $410-million project to support transmission.
According to him, 200 million dollars has already been approved by the AfDB board for phase one to improve transmission lines and the provision of sub-stations.
Meanwhile, the inability of the Electricity Generation Companies (GenCos) to generate enough electricity has thrown Nigeria into darkness.
The companies comprising gas-fired and hydro stations, said they could not generate 4,208 megawatts of electricity due to unavailability of gas.
The situation has forced the Electricity Distribution Companies (DisCos) to start nationwide rationing of electricity.
MM/GIK/abj/APA