Nigeria turns to China for a new $2 billion loan to rebuild ailing power grid

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Nigeria is in advanced negotiations with the Export-Import Bank of China (EximBank) for funding a $2 billion super grid transmission network. The initiative aims to address Nigeria's electricity challenges, expanding capacity and reliability.

The tariff reforms have increased sector revenues, enabling reinvestments into grid efficiency and access. The super grid could also bolster regional energy collaborations through the West African Power Pool framework.

After decades of unreliable electricity and frequent blackouts, Nigeria is seeking a $2 billion lifeline to rebuild its ailing power grid and restore confidence in its industrial energy supply.

Source: Wikipedia