Federal Government has secured a $238 million loan facility from the Japan International Cooperation Agency to strengthen its national power grid, following high-level engagements led by President Bola Ahmed Tinubu and Minister of Power, Chief Adebayo Adelabu, at the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan.
Speaking through a statement signed by the Ministry of Power on Friday, President Tinubu stressed that Nigeria’s participation at TICAD 9 was about concrete results, not mere diplomacy.
The $238 million JICA loan, backed by Federal Executive Council counterpart funding of N19,083,192,805.30, will finance the expansion of the national grid. The project includes the construction of 102.95km of new 330kV double circuit lines, 104.59km of 132kV double circuit lines, four 330/132/33kV substations, two 132/33kV substations, and multiple line bay extensions to improve efficiency and reduce system losses.
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