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Hello Nigerians,
To improve electricity access, FG plans to spend N661bn ($1.74bn) through the Nigerian Distribution Sector Recovery Program (DISREP)
Of this $1.74bn, 72.1% will be funded by loans. This will increase Nigeria's N31tn debt burden by 1.54% #WatchTheDebt
Thread!
To improve electricity access, FG plans to spend N661bn ($1.74bn) through the Nigerian Distribution Sector Recovery Program (DISREP)
Of this $1.74bn, 72.1% will be funded by loans. This will increase Nigeria's N31tn debt burden by 1.54% #WatchTheDebt
Thread!
For context, a brief review of Nigeria's current electricity distribution status reveals that;
85m Nigerians currently have no access to grid electricity, and Nigeria records N10.1tn annually as economic losses due to lack of reliable power supply, among others.👇 #WatchTheDebt
85m Nigerians currently have no access to grid electricity, and Nigeria records N10.1tn annually as economic losses due to lack of reliable power supply, among others.👇 #WatchTheDebt
N476.3bn, which represents 72.1% of the total sum of N664bn for DISREP, will be funded with loans.
The loan consists of N265.3bn from @AfDB_Group and N189.5bn from @WorldBank.
#WatchTheDebt #AskQuestions
The loan consists of N265.3bn from @AfDB_Group and N189.5bn from @WorldBank.
#WatchTheDebt #AskQuestions
