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The African Development Bank (AfDB) has approved a financing package of $100 million for the rehabilitation of the Kainji and Jebba hydropower plants in Nigeria. The package, which consists of $80 million loan and $20 million equity, is to increase the combined available capacity from the current 917 MW to 1338.4 MW.
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E-World 2025
The AfDB, through this inaugural private sector power transaction in Nigeria, aims to play a role in both increasing power generation capacity, and to ensure that carbon-free electricity plays a greater role in a country traditionally dominated by thermal power. The Nigerian Government has said that the ongoing power sector reforms will enhance private sector participation in the electricity industry.