F.G Signs €25m Deal To Boost Power Supply

Nigeria and French Development Agency(AFD) on Wednesday signed a grant of 25 million Euro for the Northern Corridor Project to boost power supply in the country.

The Northern Corridor Project is jointly funded by the European Union and AFD, while it is being implemented by the Transmission Company of Nigeria (TCN).

The project is meant to strengthen a low-carbon economic growth in West African by improving the quality of electricity network in Nigeria and support the development of a regional electricity market under the West African Power Pool.

Speaking at the signing of the agreement in Abuja, Mr Clement Agba, Minister of State for Budget and National Planning said that the project was is in line with the objectives of the National Development Plan 2021 to 2025.

Agba said that the signing of the agreement showed that Nigeria was on track in the implementation of the development plan.

“I want to thank the EU and AFD and the French Government for this intervention in the Nigeria’s power sector especially as it has to do with transmission lines and sub-stations.

“ Power is very essential and what we are signing today demonstrates this. ‘’he said.