Economy
Nigeria gets $486m W/Bank credit for power sector
World Bank has approved a $486 million 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.
-
News2 days agoCourt orders British Govt. to pay £420m to 21 coal miners killed by colonial masters
-
Finance2 days agoCBN cuts 1-Year Treasury Bill rate, rejects Bids
-
Maritime2 days agoNIMASA mulls expansion of deep blue project, calls for continued partnership with Navy
-
Economy2 days agoBPE, stakeholders unite to rollout $500m free meters, DisCos pledge to lead drive
-
Business2 days agoMTN to acquire controlling stake in IHS Holdings, eyes full ownership
-
Agriculture2 days agoOver 2.5m metric tonnes of food valued N2trn produced in 2yrs—FG
-
Economy16 hours agoDubai’s consumer electronics maker, Maser Group to invest $1.6bn in Nigeria, others
-
Oil and Gas16 hours agoEdo govt, NNPC partner to establish 10,000bpd condensate refinery