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Friday, November 15, 2024

Home Business EU to invest 40m U.S. dollars in Nigeria’s power sector

EU to invest 40m U.S. dollars in Nigeria’s power sector

by News desk
February 18, 2024
in Business

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The European Union (EU) pledged a significant investment of 37 million euros (about 40 million U.S. dollars) to bolster Nigeria’s power sector.

The announcement was made during a meeting between Samuela Isopi, head of the EU Delegation to Nigeria, and Minister of Power Adebayo Adelabu in Abuja, in which Isopi said this financial commitment stands apart from the approximately 200 million euros (216 million dollars) in grants that have been injected into Niger’s power sector since 2008.

The newly pledged support aims to address critical areas within the sector, focusing on enhancing infrastructure and accessibility.—APP