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AfDB to support Nigeria’s power sector reforms with $1bn loan

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The African Development Bank (AfDB) says it plans to support Nigeria’s power sector with a $1 billion policy-based operation (PBO) fund to boost electricity.

 

Policy-based lending provides countries with flexible, liquid funding to support policy reforms in a particular sector.

 

Kevin Kariuki, AfDB vice-president, power, energy, climate change and green growth complex, revealed the plans on May 16 at the Eight Africa Energy MarketPlace (AEMP) Forum in Abuja.

 

The theme of the forum is titled ‘Towards Nigeria’s Sustainable Energy Future: Policy, Regulation, and Investment – A Policy Dialogue for the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP)’.

 

“We will be shortly seeking board approval for a $1 billion policy-based operation (PBO) with a significant energy component,” he said.

 

“This is aimed at supporting the ongoing power sector reforms triggered by the new Electricity Act.

 

“The timing of the AEMP and the proposed policy-based lending focused on the energy sector is, therefore, not coincidental.” 

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Kariuki said AfDB will fund the policy recommendations to actualise the expected outcomes from the NIEP-SIP.

 

He said effective policies attract long-term investments and that an enabling environment maximises the value of existing investments, such as the $256.2 million Nigeria transmission expansion project (NTEP).

 

According to Kariuki, the project will include the construction of 500 kilometres (KM) of transmission lines and four substations with a capacity of over 1000 megavolt-amperes (MVA).

 

“And the $200 million Nigeria electrification project, which will build 150 mini-grids,” he said.

 

“Moreover, we are financing a study for the Transmission Company of Nigeria (TCN) to explore the deployment of battery energy storage systems to enhance grid stability and facilitate greater uptake of renewable energy generation.

 

“Nigeria is part of our flagship $20 billion Desert to Power Initiative, which aims to generate 10,000 megawatts (MW) of solar power across 11 countries in the Sahel region to provide power to 250 million Africans.”

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According to Kariuki, this bodes well for increasing the proportion of renewable energy in Nigeria’s energy mix.

 

He said the multifaceted approach of supporting policy development, financing critical power sector infrastructure, and providing technical assistance and capacity building would be successful.

 

Kariuki expressed confidence that AfDB’s partnership with the federal government would create a viable and sustainable power sector that yields the desired result.

 

 

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Good morning! Nigerian Newspapers Headlines: 2027 election: ADC, PDP await crucial S’Court verdict today

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1. The Supreme Court is set to deliver judgment today on the leadership disputes in the African Democratic Congress and the Peoples Democratic Party, a decision that could redefine both opposition parties ahead of the 2027 general elections.

Ahead of the verdict, the party leaders reportedly held an emergency strategic meeting on Wednesday night where they reviewed possible outcomes of the judgment and charted the next line of action for the opposition coalition.

2. National Chairman of the African Democratic Congress, ADC, David Mark, has assured party members that the ADC will be on the ballot for all elections in 2027, despite ongoing legal challenges. Speaking on Wednesday night after receiving a briefing from the party’s legal team on the recent judgment of the Federal High Court in Abuja.

3. President Bola Tinubu has appointed Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s Minister of Foreign Affairs, following the resignation of Ambassador Yusuf Tuggar, who stepped down to participate in the 2027 elections. Ambassador Odumegwu-Ojukwu previously served as Minister of State in the Ministry of Foreign Affairs.

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4. Governor Chukwuma Soludo of Anambra State on Tuesday said the sit-at-home directive in the South-East triggered what he described as a self-inflicted internal crisis in the region. Speaking at the 6th Biennial Adada Lecture Series organised by the Association of Nsukka Professors at the University of Nigeria, Nsukka, Soludo lamented the human and economic toll of the development, noting that lives were lost and businesses disrupted.

5. The pump prices of Premium Motor Spirit (petrol) are nearing N1,400 per litre in many parts of the country as the United States and Iran fail to agree on a ceasefire that should lead to the reopening of the Strait of Hormuz. As the crisis in the Middle East lingers, coupled with the exit of the United Arab Emirates from the Organisation of the Petroleum Exporting Countries on Tuesday, the prices of petrol have continued to rise.

6. Loyalists of former Anambra State Governor Peter Obi and ex-Kano State Governor Rabiu Musa Kwankwaso have called on the opposition to adopt a Southern presidential candidate, intensifying conversations about coalition-building ahead of the 2027 general elections. However, opposition parties, including the African Democratic Congress, the New Nigeria People’s Party, and the Social Democratic Party, differed on whether the presidential ticket should be zoned to the North or the South

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7. The rift between Ogun State GovernorDapo Abiodun, and the Senator representing Ogun East Senatorial DistrictGbenga Daniel, has intensified as the former accused the latter of being an ingrate after supporting his senatorial bid in the 2023 elections. It would be recalled that the duo had been at loggerheads shortly after some APC leaders in the district shut Daniel out of a stakeholders’ forum in Ijebu-Ode and subsequently endorsed Abiodun as the party’s consensus candidate from the zone



8. Osun State Governor, Ademola Adeleke, has accused some elements within the fold of the All Progressives Congress in the state of orchestrating moves to disrupt the August 15, 2026, governorship election out of fear of defeat. The governor, in a statement issued by his spokesperson, Olawale Rasheed, obtained in Osogbo on Wednesday, alleged that elements in Osun APC were bent on subverting the will of the people, having realised that they stood no chance at the polls.

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9. Vice President Kashim Shettima has urged leaders and aspirants of the All Progressives Congress (APC) to embrace unity and restraint ahead of primaries and 2027 general elections. In a statement titled “2027: Don’t Pull Down the Roof,” issued in Abuja, Shettima warned that internal divisions could weaken the party’s chances of success.

10. The Inspector-General of Police (IGP), Rilwan Olutunji Disu, has ordered immediate disciplinary action against officers of the Nigeria Police Force involved in the fatal shooting incident in Effurun, Delta State, which led to the death of a civilian, Mene Ogidi. The IGP made this known during a press briefing at the Force Headquarters, Abuja, on Wednesday.

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S’court  to deliver judgment in ADC leadership tussle, PDP Ibadan convention Thursday

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The supreme court will on Thursday, April 30, deliver judgement in an appeal filed by David Mark, national chairman of the African Democratic Congress (ADC), over the leadership tussle in the country.

The appeal, marked SC/CV/180/2026, was listed for judgement on the website of the supreme court and indicated that the date has been communicated to parties in the suit. According to the notice, the judgement would commence at 2 pm.

Mark, who is leading a faction of the ADC, is challenging the March 12 ruling of the court of appeal, which ordered parties to maintain the status quo ante bellum in a suit instituted by aggrieved party members.

In the appeal, the former senate president argued that the appellate court exceeded its jurisdiction by intervening in what he described as the internal affairs of a political party.

Through his counsel, Jubril Okutepa, a senior advocate of Nigeria (SAN), Mark maintained that disputes relating to party leadership are non-justiciable, urging the court to set aside the judgement.

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The respondents in the suit include Nafiu Bala, the ADC factional chairman; Rauf Aregbesola, the Independent National Electoral Commission (INEC); and Ralph Nwosu, former national chairman of the party.

Among the reliefs sought, Mark asked the court to restrain INEC from recognising any leadership outside his faction pending the determination of the appeal.

He also prayed the court to stop the electoral body from making changes to the party’s leadership structure and to stay proceedings in a related suit pending before the federal high court in Abuja.

While INEC did not file any process in support of or against the appeal, other respondents urged the apex court to dismiss the case.

A five-member panel of the apex court reserved judgement after hearing the appeal on April 22, 2026.

The supreme court will also deliver judgement in three appeals seeking to validate the Peoples Democratic Party (PDP) national convention held in Ibadan, Oyo state capital, on November 15 and 16, 2025.

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BREAKING: Tinubu names Bianca Ojukw foreign minister, appoints new minister of state

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President Bola Tinubu has named Bianca Odumegwu-Ojukwu as the new minister of foreign affairs.

Odumegwu-Ojukwu replaces Yusuf Tuggar who recently resigned to pursue the Bauchi governorship election in 2027.

Sola Enikanolaiye has been appointed as the new minister of state in the foreign ministry.

Bayo Onanuga, presidential spokesperson, announced the development on Wednesday.

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