India supports Nigeria with $174m to boost power supply

By Energy Worth

The Indian High Commissioner to Nigeria, Shri Reddy, said his country has made available the sum of about $174.96 million to boost power supply in Nigeria.

Reddy made this disclosure on Wednesday, while speaking at a workshop organised by All Indian Universities Alumni in Abuja.

Speaking on his behalf at the event, Subhash Chand, Indian Deputy High Commissioner to Nigeria, said the Indian government has already approved $60 million “Line of Credit” for power projects in Kaduna and Cross River states while approval for a sum of $40 million for Enugu State is being processed.

According to him, “I am also happy to inform you that during the recently concluded International Solar Alliance (ISA) Funding Conference and Solar Summit which took place on 11 March, 2018 in New Delhi, the Government of India has offered the following two solar projects, Solar PV Renewable Micro – Utility (REMU) in six political zones of Nigeria for amount of $8.36 million and 50 Mega Watt Solar Power Plant in Bauchi state in Nigeria for an amount of $66.6 million.”

The envoy, while speaking on the trade relations between the two countries, revealed that India’s exports to Nigeria in 2016 were valued at $1.74 billion as against $7.41 billion imported from Nigeria by India leaving trade balance of $5.74 billion in favour of Nigeria.