Nigeria to benefit from World Bank’s $22.5m electricity grant


Nigeria is set to benefit from a $22.5 million World Bank funding for the regional off-grid electricity access project (ROGEAP) in West and Central Africa.

In a statement released yesterday in Washington DC, US, the World Bank said the intervention is in form of grants from the International Development Association (IDA) and the Clean Technology Fund (CTF).

The World Bank said the project is designed for Nigeria and 18 other countries in West and Central Africa, 15 of which are members of the Economic Community of West African States (ECOWAS).

The countries are Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, and Mali.

The others are Niger, Nigeria, Senegal, Sierra Leone, Togo, Cameroon, Central African Republic, Chad, and Mauritania.

“The project will support activities to accelerate the deployment of stand-alone solar products, in a sub-region where 50 percent of the population does not have access to electricity and where less than 3 percent of the population uses such innovative technologies,” the World Bank said.

“It seeks to harmonize policies and standards and business procedures to develop a regional market of stand-alone solar products, support entrepreneurs in business acceleration activities, and provide credits and grants for the deployment of stand-alone solar home systems.”

READ ALSO! Nigerian Central Bank Approves Disbursement Of Loans For Creative Industries At 9%

READ ALSO! Tony Elumelu To Empower 1,000 Northern Entrepreneurs With $5000 Each

READ ALSO! How To Empower Yourself And Generate Income From Mutual Funds

READ ALSO! Is N-Power Truly Empowering Nigerian Youths?

READ ALSO! How Nigerian Govt Can Lift 100million People Out Of Poverty — Tony Elumelu

READ ALSO! TraderMoni: Poverty Alleviation Or Political Leverage?

READ ALSO! Is N-Power Truly Empowering Nigerian Youths?

READ ALSO! Gtbank 737 Disservice: How to Kick Your Customers in the Butt!

READ ALSO! Why The North Remains Headquarters Of Poverty In Nigeria — Kingsley Moghalu

READ ALSO! The Love Of Your Life Is An Illusion: It Doesn’t Exist Anywhere!