http://www.punchng.com/business/business-economy/germany-approves-n34-6bn-credit-for-nigerias-power-sector/

Germany approves N34.6bn credit for Nigeria’s power sector

The German Development Bank-KFW has earmarked about N34.6bn for the advancement of renewable energy, energy efficiency projects and technical assistance for the Nigerian power sector.

Specifically, the German bank allocated $200m in form of Green Credit Line as support base for Small and Medium Enterprises to develop renewable energy and energy efficiency programmes.

It also stated that another facility worth €5m had been set aside for technical assistance through the KFW.

The leader of a German delegation, Renate Von Bodden, disclosed this during a Bi-national Commission Meeting on Energy in Abuja on Wednesday.

Boddon, according to a statement from the Federal Ministry of Power, stated that the German agency was endowed with the required experience that would be useful to Nigerians in developing their capacities in renewable energy projects.

She expressed satisfaction with the commitment so far exhibited by Nigerian officials, adding that the Germans had been working with Nigeria on a number of energy-related projects.

“Nigeria is on track with its vision of providing more of its nationals with electricity,” she said.

Bodden promised that Germany would continue to support the various energy-related initiatives.

The Minister of Power, Prof. Chinedu Nebo, who was represented by the ministry’s Permanent Secretary, Mr. Godknows Igali, said “The co-operation between Nigeria and Germany is a good example of how we can mutually work together for the benefit of our people.”

He commended the Germans for the various projects undertaken in Nigeria as well as their support for the Azura power project.

Nebo stated that after the last Bi-national meeting in Berlin, the Germans had approved the one megawatt renewable electricity project for the University of Ibadan.

This, he said, would also create opportunities for research and observed that Nigerians were tired of the nuisance created by diesel run generators.

According to the minister, the success of the project will be a template upon which similar projects will be replicated in universities across the six geo-political zones of the country.

Nebo also commended the Germans for their intervention in rural development programmes through the provision and access to power for farmers in the rural areas to undertake irrigation activities.

On gas flaring, the minister assured the Germans that a comprehensive gas master plan would soon address their concerns.

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