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World Bank to Infuse $750 Million into Nigeria’s Electrification Drive

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World Bank to Infuse $750 Million into Nigeria's Electrification Drive

The World Bank has recently unveiled an ambitious plan to contribute an additional $750 million to the Nigeria Electrification Project (NEP), aiming to bolster access to electricity in the country. This move comes as Nigeria intensifies efforts to enhance its electrification initiatives and address the pressing need for reliable power supply. With Nigeria spearheading advancements in small grid development, Ms. Elizabeth Huybens, the World Bank’s Director of Strategy and Operations for Western Central African Region, emphasized the paramount importance of universal electricity access in fostering economic growth and eradicating poverty.

During her visit to the Kilankwa Community in Kwali Area Council, Abuja, Ms. Elizabeth Huybens unveiled the World Bank’s commitment to the NEP. The project under her inspection is a 60 KiloWatts Mini Grid, an integral part of the ongoing national electrification initiative funded with approximately $350 million, nearing completion. As this project nears its end, the World Bank gears up to launch a successor project with a substantial budget of $750 million, further solidifying its unwavering support for Nigeria’s electrification objectives.

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Ms. Huybens highlighted the significance of decentralized electrification solutions showcased by the Kilankwa project. By implementing mini grids, this initiative enables swift and widespread electricity access, surpassing the limitations of conventional grid extensions. Recognizing electricity’s pivotal role in modern living, she emphasized its significance in powering daily activities, such as charging cell phones, and facilitating the adoption of electric vehicles.

Ahmad Salihijo, the Managing Director of the Rural Electrification Agency (REA), commended the Kilankwa project for its impact on approximately 300 households and businesses. He attributed the project’s success to the World Bank’s Performance-Based Grant, an essential component of the NEP that has facilitated the development of this model electrification project.

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Nigeria has been proactively devising strategies to bridge its electricity gap and enhance the overall well-being of its citizens. Collaborating with the World Bank allows the nation to leverage global expertise and financial resources to achieve its electrification targets. The substantial investment of $750 million reinforces Nigeria’s resolve to expand electricity access, stimulate economic growth, and alleviate poverty.

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The World Bank’s generous investment in Nigeria’s electrification endeavors underscores the value of sustainable energy solutions in driving economic development and combating poverty. Nigeria’s pioneering role in small grid development further positions the country as an influential advocate for innovative solutions to address electricity shortages.

The World Bank’s substantial commitment of $750 million to Nigeria’s electrification aspirations underscores the critical role of electricity in fostering improved living conditions and driving economic growth. The generous funding will catalyze the expansion of electricity access to underserved communities, accelerating Nigeria’s progress towards electrification goals. As a trailblazer in small grid development, Nigeria’s collaboration with the World Bank represents a significant milestone in its journey towards achieving universal electricity access and ultimately eradicating poverty.

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