At the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, the Federal Government of Nigeria secured a $238 million loan facility from the Japan International Cooperation Agency (JICA).
The agreement was signed to support significant upgrades and expansion of the nation’s power infrastructure.
The funding package includes a Federal Executive Council counterpart investment of approximately ₦19.08 billion, to be directed toward the development of new power infrastructure. This initiative is expected to strengthen Nigeria’s electricity distribution network, particularly through the construction of new 330kV double circuit lines spanning around 102.95 kilometres.
The leadership delegation included President Bola Tinubu and Minister of Power Adebayo Adelabu, both of whom played key roles in negotiating the deal at TICAD9.
