Nigeria’s hydropower sector has received a $3.3 billion pledge from the Chinese government. According to Nigeria’s Leadership, the Asian country is committed to aiding Nigeria in the development of its hydro-power sector.
The Ministry of Energy (Power) said the financial commitment by China to the hydro-power sector is in line with the government’s efforts to attract private investment into the power sector.
The $3.3 billion from China is slated for 10 projects, which could have the potential to boost the country’s hydro-power generation by 6,000 MW. The funds will be used to refurbish existing facilities as well as construct new power projects.