Nigeria’s Power Sector Receives N34.6bn Credit Boost from Germany

The German Development Bank-KFW has earmarked about N34.6bn for the improvement of renewable energy, energy efficiency projects and technical assistance for the Nigerian power sector.
Specifically, $200m in form of Green Credit Line was allocated by the German bank as support base for Small and Medium Enterprises to develop renewable energy and energy efficiency programmes.
It also disclosed that another facility worth €5million had been set aside for technical assistance through the KFW.
This was reported during a Bi-national Commission Meeting on Energy in Abuja by the leader of a German delegation, Renate Von Bodden.
Boddon expressed contentment with the devotion so far shown by Nigerian officials, adding that the Germans had been working with Nigeria on a number of energy-related projects and is endowed with the necessary experience that would be useful to Nigerians in developing their capacities in renewable energy projects.
Bodden promised that Germany would continue to support the various energy-related initiatives saying Nigeria is on track with its vision of providing more of its citizens with electricity.
The Minister of Power, Prof. Chinedu Nebo, commended the Germans for the various projects undertaken in Nigeria as well as their support for the Azura power project.
On gas flaring, the minister guaranteed the Germans that a comprehensive gas master plan would soon address their concerns.