Great news for Nigerians living in rural areas! The World Bank just approved a $750 million loan to build 1,200 mini-grids across the country. This means millions of people will finally have access to electricity for the first time.
President Bola Tinubu gave the green light for this project, which is called the Distributed Access through Renewable Energy Scale-up project. These mini-grids will likely use renewable energy sources like solar power, which is a big plus for the environment.
Up to 19 million Nigerians will benefit from this project, bringing clean and reliable power to homes and businesses that currently have none. This is a big step towards closing Nigeria’s gap in electricity access, which is the largest in the world according to officials.
The money from the World Bank will be used to encourage private companies to invest in building these mini-grids. The government hopes this will jumpstart progress in bringing electricity to everyone in Nigeria.
Source: PUNCH