N45b IDA loan for power: Real challenges and exposures
The Federal Executive Council (FEC) yesterday approved a N45billion ($300 million) credit from the International Development Association (IDA) to finance electricity transmission and distribution infrastructure for the nation’s power sector. The credit is in addition to the $5.38 billion set aside for expenditure under the National Independent Power Project (NIPP) by the Federal Government out of which $3.38 billion has been spent.

