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.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
Read full article
Continue on Politics Nigeria
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
FG, Japan Intensify Talks on $238m Loan for National Power Grid Expansion
FG Okays N13bn, $34m for Transmission Project, Transformer Upgrade
Japan, AfDB launch $5.5 billion Africa financing deal as Tinubu hails Nigerian troops
President Tinubu Seeks $1 Billion Investment Into Nigeria at TICAD9
JUST IN: President Tinubu Speaks on Benefits of Japan Trip
Nigeria Targets $1bn Deals At TICAD9 – Tinubu
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
