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The Federal Government has entered into advanced discussions with the Export-Import Bank of China for a $2 billion loan facility aimed at financing the construction of a new “super grid” that will significantly improve electricity transmission and distribution across the country.
Minister of Power, Chief Adebayo Adelabu, made this disclosure on Monday in Abuja while speaking on the government’s strategic plan to end Nigeria’s long-standing power supply crisis and stimulate industrial growth.
According to Adelabu, the proposed super grid project forms a major component of the administration’s energy reform agenda, designed to modernize the nation’s aging power infrastructure and ensure efficient energy delivery to households and industries.
He explained that the new transmission network would be capable of carrying more electricity with reduced losses, ensuring that power generated from various sources reaches consumers seamlessly.
“The super grid will provide a stable and reliable backbone for Nigeria’s electricity transmission system and support our broader economic development objectives,” the minister stated.
Adelabu added that the federal government is committed to diversifying funding sources for the energy sector through partnerships with international financial institutions and development agencies, assuring Nigerians that the project, once completed, would usher in a new era of reliable and sustainable electricity supply.
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