Lagos - To help address the huge power deficit in Nigeria,the African Development Bank has began consultations with the Federal Government to raise its partial-risk guarantee for Nigeria’s power industry investments by $200 million this year.
The present move by AfDB will make investors who are scared of investing in the power sector feel more comfortable with the guarantee, reports New Telegraph.
Bocar Toure, senior energy economist at the African Development Bank, said the new investment will further enhance the creditworthiness of the bulk trader and keep the power market afloat.
He said the amount from which eligible projects can benefit will rise to $380 million in the nearest future.
Read more at New Telegraph.
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