Rural electrification: FG begins $750m World Bank funded project November
The Federal Government (FG) has declared intention to begin implementation of the $750m World Bank-funded rural electricity project in November.
According the FG, the project would guarantee over 17.5m Nigerians access to new and improved access to electricity through distributed renewable energy solutions.
The Managing Director of the Rural Electrification Agency, Abba Aliyu, disclosed this on Thursday on Channels Television’s Sunrise daily programme.
The financial commitment from the development partners include $100m from the Global Energy Alliance for People and Planet and $200m from the Japan International Cooperation Agency.
Other partners collaborating on the programme include the United States Agency for International Development, the German Development Agency, SEforAll as well as the African Development Bank.
Recall that in December 2023, the World Bank announced approval of Nigeria Distributed Access through Renewable Energy Scale-up project, being financed by $750m International Development Association credit.
It would leverage over $1bn of private capital and significant parallel financing from development partners.
Kindly share this report
