World Bank offers $486 million for the improvement of the Nigerian power grid

16/02/2018 15:40 Electricity Market

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World Bank decided to lend 486 million dollars for the improvement of the Nigerian power grid.

The Bank affirmed that the investments under the Nigeria Electricity Transmission Project will boost the power transfer capacity of the transmission network and will allow distribution firms to offer consumers additional electricity.

 

Nigeria’s power sector is regularly criticized as economists consider that it holds back the economic growth of the state.

 

Frequent blackouts occur in many households and enterprises, and many rely on their own power generators that are very costly to run.

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