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Nigeria gets USD 5 billion for power reform

Nigeria: The Africa Development Bank (ADB) provided USD 3 billion and the Islamic Development Bank (IDB) USD 2 billion for the power sector in Nigeria. The fund has been offered to upgrade the crucial infrastructure for the economy, the lack of which scares investors and adversely affects the development.

Namadi Sambo, Vice President, Nigeria shared this information with media in Abuja during Presidential Committee meeting on the Mambilla hydro power project. Sambo identified the challenges like geo-technical, geo-physical orthophoto-mapping, accessibility, environmental impact assessment problems, legal issues and lack of payment to the contactors.

Sambo promised to provide a helicopter to facilitate accessibility, orthophoto mapping, geo-technical and geodetic surveys, among others.

He set up a committee consisting of Ministries of Power and Justice, Presidential Adviser on Power, Bath Nnaji and a representative of the Office of the Vice President, to tackle the immediate problems.

Source: Daily Independent