Just In: Hope Rises as Tinubu Acknowledges African Development Bank's $1.1 Billion, Details Emerge
- President Bola Ahmed Tinubu has acknowledged securing a $1.1 billion fund from the African Development Bank (AfDB) for the provision of electricity for 5 million people by 2026
- Legit.ng reports that President Tinubu also stated that the AfDB’s $200 million in the Nigeria Electrification Project would provide electricity for 500,000 people by the end of 2025
- According to presidential spokesperson Bayo Onanuga, the president made this known at the just-concluded two-day Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public affairs and governance in Nigeria.
Dar es Salaam, Tanzania - President Bola Tinubu on Tuesday, January 28, detailed “the substantial progress” Nigeria has achieved with the support of international development partners.
Tinubu has concluded his visit to Dar es Salaam, Tanzania, where he joined other African leaders to participate in the Mission 300 Africa Energy Summit.
Source: Twitter
The two-day summit, hosted by the government of Tanzania in collaboration with the African Union, the African Development Bank (AfDB), and the World Bank Group, adopted the Dar es Salaam Declaration.
The Declaration focused on providing access to electricity for 300 million people in Africa by 2030.
According to a statement by one of the presidential spokespersons, Bayo Onanuga, President Tinubu acknowledged AfDB's $1.1 billion, expected to provide electricity for 5 million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.
Tinubu said:
"We also look forward to the AfDB's planned $700 million investment in the Nigeria Desert to Power programme and its planned $500 million facility for the Nigeria-Grid Battery Energy Storage System, which will provide electricity for an additional two million people.
"We have equally begun making plans to ensure the effectiveness of the World Bank's $750 million support for expanding Nigeria's distributed energy access via mini-grids and standalone solar systems that will provide access to power to 16.2 million people."
Furthermore, the Nigerian leader expressed gratitude to Ajay Banga, President of the World Bank Group, and Nigeria's Akinwunmi Adesina of AfDB "for their transformative vision, which he said 'will light up and power Africa'."
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Tinubu meets Osinbajo in Tanzania
Earlier, Legit.ng reported that Tinubu met with former vice president, Professor Yemi Osinbajo at the Africa Energy Summit in Tanzania.
Tinubu and Osinbajo connected at the energy summit in Dar Es Salaam alongside AfDB's Adesina.
The special assistant to President Tinubu on social media, Olusegun Dada, shared photos of the meeting via his verified X handle, @DOlusegun.
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Source: Legit.ng
