EU to provide N33bn for power sector development

EU to provide N33bn for power sector development

Yvonne Williams

The European Union on Thursday night said it would provide a loan of €150m (N33bn) to develop the power sector.

The development was confirmed from a statement issued in Abuja by the Nigerian Electricity Regulatory Commission.

The statement said the amount was announced when a three-man delegation from the European Union, led Mr. Peter Cameron, had a meeting with the NERC Chairman, Dr. Sam Amadi.

Cameron, according to the statement, said they were in the country to assess possible areas the EU could be of assistance in solving the country’s power challenge, the Punch reports.

Reports also add that the identities of  other members of the delegation are; Gerrit Clarke and Daud Carew.

Cameron said the delegation has been in the country for some days, noting that they have spoken with other stakeholders in the sector about the possible areas of assistance.

The Commission, the statement added, has, however, requested for the details of the grant for it to study and arrive at a well informed position on how best the offer could be accessed and optimally utilised.

Happenings Media