The Tinubu-led government has secured a $1.1 billion loan from the African Development Bank (AfDB) which it claims will be used for the provision of electricity for 5 million people by the end of 2026.
Bayo Onanuga, Special Adviser to Tinubu, (Information & Strategy)made this known in a speech presented by Adebayo Adelabu, Minister of Power, at the just concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.
Tinubu also stated that the AfDB’s $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.
His words,”I (Tinubu) acknowledged AfDB’s $1.1 billion, expected to provide electricity for 5 million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.
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“This is an ambitious goal, but we can achieve it together,” Tinubu said. “As Nigeria’s President, I am committed to making energy access a top priority.”
Meanwhile, this comes following the myriads of borrowing spree Tinubu has been getting involved in since the inception of his governance despite the hardship and inflation Nigerians are battling with.
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