By Adaobi Rhema Oguejiofor
The Minister for Power, Adebayo Adelabu, has announced that the African Development Bank (AfDB) has pledged to disburse a previously approved $250 million fund for the Nigeria Electrification Project (NEP) under the Rural Electrification Agency (REA) in order to tackle the energy crisis.
The Minister disclosed this through his official X handle, formerly known as Twitter, on Thursday.
In his own words, “it is our hope that by our collaboration, the industry and the supervising Ministry would be a reference point in the minds of Nigerians both at home and abroad.”
According to him, the President of AfDB, Dr. Akinwunmi Adeshina, made this commitment after a meeting at the ongoing “Just Energy Transition and Agricultural Transportation for Africa” conference in Busan, South Korea.
“This initiative establishes operational capacity across the entire value chain, facilitating project prioritization. AfDB also confirmed readiness to disburse a previously approved $250 million fund for the Nigeria Electrification Project (NEP) under the Rural Electrification Agency (REA) and extended support to Northern Nigerian states through the $20 billion 10,000 megawatts (MW) Northern Africa Desert to Power fund,” he said.
