Adebayo Adelabu, Nigeria’s Minister of Power, announced plans to secure a $190 million renewable energy loan backed by the Japan International Cooperation Agency (JICA) during the 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama, Japan.
Leading a Nigerian delegation, President Bola Tinubu participated in high-level discussions focused on leveraging power, infrastructure, and industrial transformation for sustainable development. Adelabu highlighted that the loan aims to expand distributed renewable energy solutions in underserved communities.
This initiative builds upon the recently launched $750 million World Bank Distributed Access through Renewable Energy Scale-up (DARES) programme, which intends to provide clean electricity to over 17 million Nigerians. The minister also met with major Japanese corporations, including Toshiba and Hitachi, to discuss strategies for improving transmission infrastructure and operational efficiency.
The discussions follow the Federal Executive Council’s approval for counterpart funding of over N19 billion to facilitate a $238 million loan from JICA. This funding will enhance the national grid by adding substantial new transmission lines and substations.
Additionally, three substations funded by JICA through a $32 million grant are set for commissioning in Apo, Keffi, and Apapa, which will strengthen power supply reliability for households and industries, particularly around Lagos Port.
