Afreximbank Fuels Aba's Power Revival with $50M Investment

Aba, located in South-east Nigeria, is undergoing a significant power transformation thanks to a decisive $50 million completion funding from the African Export-Import Bank (Afreximbank) for the Aba Integrated Power Project, promoted by Geometric Power Limited. This funding has revitalized a $900 million investment that had been stalled for nearly 20 years.

Businesses in the area are now operating 24 hours, hospitals have reduced energy costs by 40 percent, and schools are enhancing their research capabilities. Miss Vivian Aneke, Manager of Fineporter Nigeria Ltd, reported an increase in production from 40 to 75 percent due to reliable power supply.

Mr. David Mmadueke, Chairman of Damson Industries, noted that his company has not used diesel since switching to Aba Power. The President of Aba North Shoe Plaza, Mr. Obioma Onyebuchi, confirmed that the plaza has enjoyed steady electricity supply since January 14.

Aba Power Limited's Director of Commercial Operations, Mr. Emeka Ngwok, stated that 98 percent of customers are now metered, addressing issues of estimated billing.