The World Bank intends to contribute to the financing of the construction of 1,000 solar power mini-grids in Nigeria, in collaboration with the government and the private sector, said Ajay Banga, president of the financial institution, on August 5.

During a visit to a mini-grid site on the outskirts of the capital, Abuja, Ajay Banga told journalists that about 150 mini-grids had already been built, partly thanks to financing from the World Bank. He then added: "We are building another 300, but our ambition, together with the government, is to reach 1,000. "We are talking about hundreds of millions of dollars invested."

Africa's largest economy is only about 60% electrified, according to World Bank data, while millions of homes and businesses rely on gasoline generators.

Article source: ECOM NEWS africa