Business
Nigeria gets $486m W/Bank credit for power sector
World Bank has approved a 486 million dollars credit facility to Nigeria for electricity grid improvements, the lender said on Friday.
“The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said.
Nigeria’s power sector is often criticised by economists for holding back the country’s economic growth.
Businesses and households are subject to frequent blackouts, and many depend on their own generators that are expensive to run.
-
Featured5 days agoInside INEC’s race to prepare for Nigeria’s 2027 elections
-
Featured5 days ago2027: APC unveils nationwide campaign timetable, Tinubu to rally in 12 states
-
Latest7 days agoUCTH faces morgue crisis as 50 unclaimed corpses await mass burial
-
Aviation1 week agoGermany opens online application route for student, EU Blue Card and other long-stay visas
-
Business7 days agoBREAKING: Nigeria’s Inflation Rate Drops to 14.63% in September
-
Business6 days agoPresident Tinubu and the Low Transport Fares Fiasco
-
Business5 days agoCourt dismisses ₦170m Trade Fair contract claim, says Zenith Bank was not a party
-
Business2 days agoNaira faces exchange rate gap as Dollar hits N1,380 on parallel market