Zenith Bank signs agreement that could ease Nigeria’s electricity challenges | Welcome to Linda Ikeji's Blog

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Monday 16 May 2016

Zenith Bank signs agreement that could ease Nigeria’s electricity challenges

On Saturday, May 14, 2016, Zenith Bank Plc signed a very significant power sector credit facility agreement with the French Development Agency (AgenceFrancaise de Development (AFD) that could have very positive implications for Nigeria’s electricity challenges.


The on-lending term loan being made available to Zenith Bank is to support new investments in the CAPEX (capital expenditure) of Distribution Companies (DISCOs) in the power sector in Nigeriaat single digit interest rates. Chairman of Zenith Bank Mr. Jim OviaandMrs. Laurence Breton-Moyet, Chief Operating Officer and Member of the Executive Board from the AFD Headquarters, Paris signed the agreement with Presidents MuhammaduBuhari and Francois Hollande in attendance.

With the potential to give over $100 million in loans to the DISCOs, this could very well be a turning point in Nigeria's struggle for uninterrupted power supply.

Read more here

30 comments:

Unknown said...

"...that could...",how true is that? We shall see though!

NaijaDeltaBabe said...

Nice


...merited happiness

AbokiDaWarriBoy said...

Good initiative, kudos Zenith.



~glo rule your world~ cos I do•

Unknown said...

I hope it goes well

Dee Tee said...

Nice!

OSINANL said...

OK...

Unknown said...

I think this DISCOS are doing far better than IE, everything about lagos is always so messed up.

Unknown said...

commendable

Unknown said...

Welcome development

Unknown said...

Gd 4 dem
Linda mkn money snc 2000
-D great anonymous now as Vivian Reginalds

Anonymous said...

This is good.
Lol. Read this funny akpos jokes here

Anonymous said...

We pray o.

Unknown said...

Good one

Unknown said...

Let's all watch and c where d deal will Nigeria to as regards power generation.

Unknown said...

Dem do well

Unknown said...

Amen to your last sentence

Unknown said...

Dats great news. Linda take note!

Unknown said...

That's good

Unknown said...

Nice one Jim










LIB ADDICT#just passing#

Anonymous said...

Pls Disco don't tell me $100million dollars is the problem for naija electricity problem, while Dansukigate: share $2.1billion within there self for lunch and dinner, just like that......

































Anonymous said...

Na wa oooo, with the budget allocated to power, we still dey borrow more, na wa oooo

Hasmoh said...

Pls stop deceiving nigerians on the power sector. What ever investment you make on the distribution component it will not add any mega watt in the system. So how can it ensure steady power supply. In a country that requires 170,000mW with less than 5,000mW available, our priority should be on generation. Even the 10,000mW target by 2019 is insignificant. May Allah help us. I wonder how the economy will grow without energy.

Anonymous said...

great news. we hope for a positive change in our power sector. and nw the power alertz guyz can come into play.

Pretty face said...

Ok

Pretty face said...

Ok, seen

Godwin said...

All I see is loans every where you go





*NWA 042*

Unknown said...

Another story again

Unknown said...

Okay,



#FINEST

Obiora Jamal said...

Putting money in discos that would still link up to the national grid! Nonsense!

Decentralise the national grid and each region would use natural resources available to them to have steady light, eg Enugu coal, hydro ,etc.

Aparazi said...

Thumbs-up Zenith bank plc, we hope for the best

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