Nigeria in Advanced Talks with China for $2bn Power ‘Super Grid’ Loan – Adelabu
Nigeria is in advanced negotiations with the Export-Import Bank of China for a $2 billion loan to build a new “super grid” aimed at ending the nation’s persistent power shortages.
Minister of Power, Adebayo Adelabu, revealed this during the Nigerian Economic Summit in Abuja on Monday, October 6, noting that the project will link the eastern and western regions and reconnect major industrial users who left the unreliable national grid.
He confirmed that the Federal Executive Council (FEC) has approved the project’s financing framework, clearing the way for formal talks with China’s Exim Bank.
Adelabu said the new grid will improve transmission efficiency, reduce power losses, and strengthen electricity delivery to industrial zones.
He added that recent tariff reforms have boosted industry revenues by 70% in 2024, with further growth projected to ₦2.4 trillion this year, a sign of progress toward a more stable and decentralized power system.
