Nigeria To Borrow $200 Million From Japan For Power Expansion Scheme In Lagos, Ogun | AfroNaija



 
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Nigeria to borrow $200 million from Japan for power expansion scheme in Lagos, Ogun

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Nigeria to borrow $200 million from Japan for power expansion scheme in Lagos, Ogun

Nigeria to borrow $200 million from Japan for power expansion scheme in Lagos, Ogun

The Federal Government has disclosed its plans to borrow $200 million from Japan International Co-operation Agency (JICA) to support the power expansion programme in Lagos and Ogun states.

The fund, according to the Minister of Power, Abubakar Aliyu, is to provide about 203KM high voltage transmission lines and 6 high voltage substations which cover five local governments in Ogun State and one local government in Lagos State with appropriately 200 communities affected.

“The Transmission Rehabilitation and Expansion Programme which would be carried out by the Transmission Company of Nigeria (TCN) through a loan of $200 million to be obtained from the Japan International Co-operation Agency is to provide about 203KM high voltage transmission lines and six high voltage substations which cover five local governments in Ogun State and one local government in Lagos State with appropriately 200 communities affected” the Minister, said

Aliyu who disclosed this when he received a delegation from JICA in Abuja, added that part of the counterpart funding would be used to compensate affected persons around the corridor.

“The counterpart funding for compensation of Project Affected Persons (PAP), consultancy services for line route studies, environmental and social impact assessment, the environmental social management plan for the proposed JICA transmission projects in Lagos and Ogun states is reflected in the 2021/ 2022 appropriation of the Ministry” the minister, revealed.

The Minister expressed the delight of the Federal Government on the co-operation and assured JICA of President Muhammadu Buhari’s resolve to ensure that best practices are applied, particularly to infrastructural development in the electricity supply industry in Nigeria, noting that transmission is a major stake of government which is targeted at raising operational capacity to an appreciable level particularly at areas where industries are rapidly expanding.

Earlier, Senior Representative, Japan International Cooperation Agency, Nigeria office and team lead, Sasaki Taigo, had said that their mission was to confirm the content of loan agreement and project memorandum of the Lagos and Ogun power transmission system improvement project with relevant ministries and implementation agencies among others. He further said that meetings with relevant authorities will commence with the aim of having the loan agreement signed in March.

The post Nigeria to borrow $200 million from Japan for power expansion scheme in Lagos, Ogun appeared first on NEWS.

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Aminat Aigbe

Aminat Aigbe is the first lady of afronaija and a very good blogger ( Original Mrs AfroNaija )

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