Minister for Power, Adebayo Adelabu has announced that the African Development Bank has pledged to disburse a previously approved $250 million fund for the Nigeria Electrification Project (NEP) under the Rural Electrification Agency (REA) to tackle the energy crisis.

The Minister disclosed this through his official X, formerly Twitter, handle on Thursday.

According to him, the President, Dr Akinwunmi Adeshina, made this commitment after a meeting at the ongoing “Just Energy Transition and Agricultural Transportation for Africa” conference in Busan, South Korea.

He said: “This initiative establishes operational capacity across the entire value chain, facilitating project prioritization. AfDB also confirmed readiness to disburse a previously approved $250 million fund for the Nigeria Electrification Project (NEP) under the Rural Electrification Agency (REA) and extended support to Northern Nigerian states through the $20 billion 10,000MW Northern Africa Desert to Power fund”.

DAILY POST recalls that on Thursday Nigeria suffered a national grid collapse but was restored after hours of power blackout.

FG secures AfDB $250m rural electrification funds to tackle energy crisis – Adelabu