Power: Nigeria Gets $200m Credit Line from Germany
Nigeria has been granted $200 million facility by Germany to develop her small scale renewable energy sector, a German official disclosed on Wednesday.
Renate Von Bodden, who led his country’s delegation to a bi-national Commission’s meeting on energy between both countries in Abuja, also announced the provision of another facility worth €5 million, which was set aside for technical assistance to Nigeria’s power sector through the same KFW.
The loan advanced through German Development Bank (KFW) would support small and medium enterprises specifically for development of renewable energy sources and other energy efficiency projects.
According to Von Bodden, the German agency is properly endowed to provide the required experience that would be useful to Nigerians in developing her capacities in renewable energy projects.
While pledging Germany’s continued support to Nigeria’s power sector in various energy related initiatives, Bodden stated that the only social issue in Nigeria that is competing for Germany’s attention with the power sector of Nigeria is polio eradication.
She stressed in a statement from the ministry of power that with the commitment so far exhibited by Nigeria, the country was on track with its plan to provide electricity to the country’s huge population, adding that Germany had been working with Nigeria on a number of energy related projects to conclude that.
The statement however quoted the Minister of Power,
Minister of Power, Prof. Chinedu Nebo, has expressed appreciation to the German government for their gesture, describing the “co-operation between Nigeria and Germany is a good example of how we can mutually work together for the benefit of our people.”
Nebo, who was represented by the permanent secretary in the ministry, Godknows Igali, commended the Germans for the various projects they had undertaken in Nigeria, as well as their support for the Azura project which has reached an advanced stage for fund draw down.
He also noted that Germany had approved the 1 megawatt (MW) renewable electricity project for the University of Ibadan after the last Bi-national meeting in Berlin, adding that will also create opportunities for research for better renewable sources of power against the nuisance created by diesel run generators.
The success of this project, he said would be a template upon which others would be replicated in universities across the country.
The minister also commended the Germans for their intervention in rural development programmes through the provision and access to power for farmers in the rural areas to undertake irrigation activities.
