EIB to Finance Nigeria Power Projects

European Investment Bank Vice President Plutarchos Sakellaris pledged financial assistance for a public-private partnership to help Nigeria improve its national power supply, Daily Trust reports. Nigerian Minister of Power Lanre Babaloba welcomed the EIB’s pledge, noting that the local government aims to encourage private-sector investments in several key sectors, including electricity.

“Efforts are also being intensified to create a conducive atmosphere for investors in Nigeria,” Babaloba explained. “Our goal in the medium term is to complete the National Integrated Power Projects .”

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.