Nigeria receives loans from ADB and Islamic Bank for power upgrades

Jul 12, 2010 02:00 AM

An additional $ 5 bn in foreign loans came for the power sector in Nigeria, to upgrade the most vital infrastructure for the economy, the lack of which scares investors and stunts growth. The Africa Development Bank (ADB) provided $ 3 bn, and the Islamic Development Bank (IDB) $ 2 bn.
Vice President Namadi Sambo disclosed this in the Villa in Abuja when he chaired a meeting of the Presidential Committee on the Mambilla hydro power project. He enthused that with such support, the government will complete the project, which was initiated in 1982.

"This administration has resolved to look into the area of power generation, and the key areas of concentration are hydro power and coal power production," Sambo said.
He ordered a revised programme, including the feasibility study of the Mambilla dams, as prelude to a detailed design to enhance a speedy completion. Sambo identified the challenges militating against the completion of the project to include geo-technical, geo-physical orthophoto-mapping, accessibility, environmental impact assessment problems, legal issues, as well as lack of payment to the contactors. He set up a committee consisting of Ministries of Power and Justice, Presidential Adviser on Power, Bath Nnaji, and a representative of the Office of the Vice President, to tackle the immediate problems.

Sambo promised to provide a helicopter to facilitate accessibility, orthophoto mapping, geo-technical and geodetic surveys, among others.
Minister of State for Power, Nuhu Wya, said the project, sited at Gembu in Taraba State, will provide 2,600 MW. He added that the problems include non completion of field studies and investigations of schedule, difficult access, and weather conditions and non definition of implementation mode since the cancellation of the civil works contract.

Source / Daily Independent
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« October 2020 »
October
MoTuWeThFrSaSu
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31

Register to announce Your Event

View All Events