African Development Bank (AfDB) has approved a $210 million loan for Nigeria. The investment is aimed at helping Nigeria upgrade its electricity transmission and distribution network.
According to Transmission Company of Nigeria (TCN), the country’s power output currently stands at around 4,000 MW whereas the total power generation capacity is about 7,000 MW. However, the existing transmission network cannot hold if the power plants go into full operation mode.
Therefore, the loan will enable TCN to construct 330KV double circuit quad transmission lines and sub-stations across the country, hence boosting the distribution network.
Additionally, the project is also expected to improve power export and regional power system integration to the West African Power pool, especially through Niger and Benin interconnections.AfDB’s acting vice president for Power & Energy, Wale Shonibare