FG borrows $1.6b to expand power transmission - Nebo

By The Rainbow

Minister of Power, Chinedu Nebo Monday said the investments  recorded in the telecommunication sector since the introduction of the Mobile Telephone services in the country would be dwarfed by investment in Power sector once the on-going reforms in the sector takes firm footing.

Prof Chinedu Nebo
Addressing state House correspondents after a meeting of the Presidential Action Committee on Power, Professor Nebo said so far government has accessed loans from various international lending agencies  to fund the expansion of transmission  infrastructure to the tune of $1.6Billion.

According to the minister, 'We have substantial amount of funding  coming in form of loans from the World Bank, African Development Bank, Euro Bond Issue and Chinese Exim Bank and NDPHC had already designated $1.6 billion for the expansion of Transmission facilities in the country.

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