Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to expand electricity access to five million people by the end of 2026.
President Bola Ahmed Tinubu announced this while speaking at the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, reaffirming his administration’s commitment to addressing Nigeria’s electricity challenges and improving energy access for millions of citizens.
The president also disclosed that, in addition to the $1.1 billion loan, the AfDB has committed an extra $200 million investment in the Nigeria Electrification Project.
This initiative aims to provide electricity to 500,000 people by the end of 2025, further boosting efforts to enhance energy availability across the country.
The funding is expected to accelerate Nigeria’s electrification drive, particularly in underserved and rural communities.
It also serves as the government’s broader strategy to improve infrastructure and drive economic growth through sustainable energy solutions.
