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Nigeria seeks to finance major electricity project through FOCAC

ABUJA, May 17, (Xinhua/GNA) - Nigeria is seeking to finance a major electricity project in the country through the provision of funds by the Forum on China-Africa Cooperation (FOCAC), according to a cabinet minister on Thursday.

Minister of Water Resources Suleiman Adamu told reporters in Abuja that the government on Wednesday, during a meeting presided over by President Muhammadu Buhari, deliberated on the financing of the Gurara Hydro Power Project II by FOCAC.

The minister said the meeting approved of seeking funds under the FOCAC framework.

The project is expected to cost about 1 billion U.S. dollars and has the potential of generating 360 Megawatts of electricity in the country, the official said.

GNA


Source: GNA Story (https://ghananewsagency.org/africa/nigeria-seeks-to-finance-major-electricity-project-through-focac--149979)
Published: 2019-05-17 18:25:13
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