BREAKING: Tinubu’s govt secures $238m loan from Japan to boost national power grid

The Federal Government of Nigeria has secured a $238 million loan from the Japan International Cooperation Agency (JICA) to enhance the national power grid. The agreement was reached during the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, led by President Bola Ahmed Tinubu and Minister of Power Adebayo Adelabu.

The loan will support the expansion of transmission infrastructure, including new 330kV and 132kV double circuit lines, and four substations. This project aims to improve efficiency, reduce system loss, and unlock Nigeria's energy potential.

Minister Adelabu highlighted the importance of the deal, noting that JICA's support will be crucial in advancing Nigeria's energy transition and expanding access to reliable, affordable, and sustainable electricity. The government remains committed to bridging the energy gap and driving a sustainable energy future through strategic partnerships and local manufacturing initiatives.