Nigeria has obtained a $100 million credit facility from India to solve the niggling problems in the power sector...
Vice President Yemi Osinbajo on August 18 welcomed the loan from India for Nigeria’s power sector.
Speaking at the State House Abuja while receiving a delegation led by the Indian High Commissioner in Nigeria Nagabhushana Reddy, Osinbajo called for more active engagement between both countries.
Osinbajo noted that there were opportunities in agriculture and technology for Nigeria and India, adding that diplomatic and economic relationship between both countries had been extremely good.
According to him, the federal government is expected to achieve a 50 percent target reliance on renewable energy for the power sector by 2020.
His words: “We are doing some expandable work in solar energy adding about 1000MW of solar. We are looking at 50% reliance on renewable energy sources by 2020. The Buhari Presidency is determined to improve access to electricity for our people.”
Responding, the Indian high commissioner promised that his country will continue to support President Muhammadu Buhari’s administration’s economic plan. Minister of power, Babatunde Fashola recently revealed that his ministry is currently working to complete the 215MW Kaduna power plant, the transmission line for the Gurara 40MW plant the Kashimbilla Plant and some of the other power projects.
He also added that his ministry is remobilizing contractors back to the transmission sites.
dailyturst
I hope this loan will serve its purpose, am just tired of Nigeria
ReplyDeleteFrom India??? India? Errrr
DeleteWhen will all the borrowing stop? Do we still have a country call Nigeria ? Well na garri and puffpuff sure pass for breakfast...😃 . Many ulcer patient loading for dis our oga buhari's gov
DeleteJesu! From India? Of all countries.
DeleteSome of you are really Ignorant. Do you know how wealthy India is?
DeletePlease FG should not insult us, what is 100 million dollars? That is all they went to borrow. What about all the money recovered from Abacha's loot, what about all the money as bail fine paid from Buhari political enemies, all the returned monies from the Arms Deal. I mean there is no point borrowing when we have enough money on grand. Except FG is not telling us the truth. Lie Lie Government.
ReplyDeleteIf our reserves are low and they use all the money in the reserves to fund projects, where would they get money to pay civil servants, state allocations and run the government parastatals? It's just a question.
DeleteWhat about the money we borrowed from China? I gave up on this Government long ago
DeleteThis is insulting and naive....this is a bribe to influence the privatization of TCN....India with their slave tactics towards Nigerians employees....yet our leaders continue to patronize them...thumbs down.
ReplyDeleteI'm not understanding
ReplyDeleteIndia?????
ReplyDelete*Faints*
100 million dollars that will be used for nothing. So even India is now borrowing us money, Buhari has embarrassed Nigeria enough.
ReplyDeleteYou n I know that this money, they will 'chop' it
ReplyDeleteBubu... e ma je gbese kaakiri o. You hear?
ReplyDelete$100 million from India.
ReplyDeleteNa dem sabi
ReplyDeleteCongratulations to buhari and "osibande",they have finally reduced Nigeria to shreds!
ReplyDeleteWe have become a charity case to poor Indians!!!
More loans to be stolen! What is Buhari going with the loot he retrieved? Are they for his re election?
ReplyDeleteIndia that is so poor is lending us money! Aaaahh!!!!
ReplyDeleteThey only told us they borrowed they did not tell us how they intend to pay, what does this mean for the common man I see higher electricity bills being heaped on our heads, also when are they going to pay is it in the next four years when another Government is in power? please abeg borrow all you want but don't intimate us as though you are doing us all a big favour. This Government is such a scam at least during GEJ we outrightly knew we were being exploited this government acts like a domestic rat that is biting your body, it's eating your body and fanning you so you wont notice until its too late.
ReplyDeleteYou are 100% right.
DeleteHmmmmmm India Kwa
ReplyDeleteHaba,loan from India, na wa o
ReplyDeleteI just hope they won't use Nigeria as collateral one day.
ReplyDeleteSame thing I thought and we ll go back to colonialism...I hate this country sha
DeleteNeed to make it better for me and my family
I thought india was a poor country and Nigeria was better off,now they are giving us money???
ReplyDeleteRising dollars, more loans....issorai
ReplyDeleteBuhari senseless and vision less fellow. He will borrow money from Zimbabwe also
ReplyDeleteIndia ke????
ReplyDeleteThe fall of the great iroko tree...
Nigeria is finished.
India kwa ,me i get sense pass this government ,they are just clueless
ReplyDeletejust negodu... common india..this Nigeria ehn
ReplyDelete