Nigeria has secured a $190 million loan from the Japan International Cooperation Agency (JICA) to finance renewable energy projects, reinforcing its commitment to sustainable development and strategic alliances.
The agreement was announced at the 9th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, where President Bola Tinubu led the Nigerian delegation in high-level discussions on energy, infrastructure, and industrial transformation.
The facility will complement the recently launched $750 million World Bank programme aimed at expanding renewable electricity access to over 17 million Nigerians.
The Federal Executive Council also approved N19.08 billion in counterpart funding to unlock a $238 million JICA loan for expanding Nigeria’s power grid, which includes 207 km of new high-voltage lines, six new substations, and several line extensions.
Recent JICA-backed projects include the commissioning of three substations in Abuja, Nasarawa, and Lagos, as well as the provision of advanced training equipment for the National Electrical Training Institute in Abuja to enhance technical capacity in the energy sector.
