The Federal Government of Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to improve electricity access for five million people by the end of 2026.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement, noting that President Bola Tinubu made the announcement during the two-day Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania.
Tinubu’s speech, delivered by the Minister of Power, Adebayo Adelabu, noted that the AfDB’s funding would play a crucial role in Nigeria’s efforts to expand energy access. The President also mentioned that an additional $200 million from the AfDB’s Nigeria Electrification Project is set to provide power to 500,000 people by the end of 2025.
“This is an ambitious goal, but we can achieve it together. As Nigeria’s President, I am committed to making energy access a top priority,” Tinubu stated.
The President also revealed that Nigeria is expecting further investments under the AfDB’s Desert-to-Power programme and the Nigeria-Grid Battery Energy Storage System, with a combined total of $1.2 billion. These projects are projected to bring electricity to an additional two million Nigerians.
In addition to AfDB’s contributions, the Nigerian government is also working with the World Bank, which has committed $750 million to expand the country’s distributed energy access through mini-grids and standalone solar systems. This initiative is expected to provide power to 16.2 million people.
Tinubu expressed gratitude to key global energy partners, including Ajay Banga, President of the World Bank Group, and Akinwunmi Adesina, President of AfDB, for their support. He also acknowledged the efforts of the UN Sustainable Energy for All, the Rockefeller Foundation, and the Global Energy Alliance for Development.
The President stressed the importance of ensuring widespread energy access across Africa, noting that despite the continent’s rich energy resources, millions still lack reliable and affordable electricity.
“This situation is unacceptable. It is our responsibility to take collective action to change this narrative,” Tinubu stated.
