The minister of Power Adebayo Adelabu, has revealed that Nigeria is negotiating a $2 billion loan with China’s Export-Import Bank to fund a new “super grid” aimed at improving electricity supply across the country.
The minister announced this during an economic summit in Abuja, saying the project will help decentralise electricity generation and reconnect major industries that abandoned the unreliable national grid.
He explained that the new transmission network will link Nigeria’s eastern and western regions, where most large industries are located. According to him, the goal is to make power distribution more efficient and attract heavy power users back to the grid.
Nigeria’s power grid has suffered repeated breakdowns over the years due to poor generation capacity, weak infrastructure, and technical issues. The minister said the planned super grid will reduce such disruptions and boost supply to industrial zones.
Adelabu added that the Federal Executive Council has already approved funding for the project. He also noted that recent tariff adjustments for urban users have increased industry revenue by 70% in 2024 and could rise by another 41% to about ₦2.4 trillion ($1.6 billion) before the year ends.
