India Boosts Nigeria’s Power Supply With $174m

The Indian High Commissioner to Nigeria Shri Reddy has said his country has offered about $174.96million to boost power supply in Nigeria.

Mr Reddy disclosed this yesterday when he spoke at a workshop organised by All Indian Universities Alumni, in Abuja.

Mr Reddy, who was represented by the Deputy High Commissioner, Mr Subhash Chand, said the government of India has already approved $60m ‘’Line of Credit’’ in respect of power projects in Kaduna, Cross River states respectively, while $40m in respect of Enugu state is currently being processed.

‘’I am also happy to inform you that during the recently concluded International Solar Alliance [ISA] Founding 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 [i] Solar PV Renewable Micro-Utility [REMU] in six political zones of Nigeria for amount of USD8.36million and [ii] 50MW Solar Power Plant in Bauchi State in Nigeria for an amount of USD 66.60million’’, he said.

On trade relations between Nigeria and India, the envoy disclosed that the value of India’s exports to Nigeria in 2016 were $1.74billion as against India’s imports of $7.41bn from Nigeria leaving the trade balance of $5.74bn in Nigeria’s favour.