FG Gets $100m Loan From India To Boost Power

Nigeria Vice President, Yemi Osinbajo yesterday welcomed the $100 million credit facility from India for Nigeria’s power sector.

Speaking at the State House Abuja yesterday while receiving a delegation led by Indian High Commissioner in Nigeria Nagabhushana Reddy, Osinbajo called for more active engagement between both countries.

He said there were opportunities in agriculture and technology for Nigeria and India, noting that diplomatic and economic relationship between both countries had been extremely good.

The vice president said the federal government expected to achieve a 50 percent target reliance on renewable energy for the power sector by 2020.

“We are doing some expandable work in solar energy adding about 1000MW of solar. We are looking at 50% reliance on renewable energy sources by 2020. The Buhari Presidency is determined to improve access to electricity for our people,” he said.

In his remarks, Reddy said his country supported President Muhammadu Buhari’s administration’s economic plan.

Source

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