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The Federal Government has secured a $238 million loan facility from the Japan International Cooperation Agency (JICA) to strengthen Nigeria’s national power grid.
The deal was finalized during high-level engagements at the Ninth Tokyo International Conference on African Development (TICAD 9) in Yokohama, Japan. President Bola Ahmed Tinubu and the Minister of Power, who both led Nigeria’s delegation to the summit, facilitated the agreement.
According to government sources, the loan is aimed at addressing critical infrastructure gaps in the power sector, improving electricity transmission capacity, and enhancing overall grid stability across the country.
The facility is expected to complement ongoing reforms in the energy sector and support the administration’s broader economic agenda of driving industrial growth through reliable and sustainable power supply.
Nigeria continues to face persistent electricity challenges, with frequent grid collapses and inadequate distribution undermining productivity and economic growth. The new funding is seen as a step toward realizing the government’s commitment to delivering stable power to homes and industries
