At the workshop, Consul General, Federal Republic of German, Dr Stefan Traumann, said the collaboration would go a long way in providing long-lasting power to Nigeria and aid economic development. According to him, Nigeria has an abundance of sunlight, which he believed could serve as a major supply of electricity. He noted that the resource is free, available and convenient to use.
The Chief Executive Officer of Solarmate Engineering Limited, Dotun Tokun expressed happiness that the Federal Government is considering solar energy as an alternative to curb the menace of unstable power.
AfDB approves $40m investment for Nigeria, others – Punch
The Board of Directors of the African Development Bank has approved an equity investment of $40m in African economies. The $40m would be ploughed in the African Infrastructure Investment Fund, with a focus on acquiring positions of significant influence in roads, airports, rail links, bridges, ports, logistics, power generation, utility distribution, as well as telecommunications assets, the AfDB said in a statement on Friday.
It said the proposal represented the bank’s third equity investment, following a 1996 investment in South Africa Infrastructure Fund and a 2010 investment in AIIF2.
The statement read in part, “Commercial and institutional investors are likely to view the bank’s investment as a positive demonstration effect. The bank’s investment will also ensure the highest environmental and social standards are applied to AIIF3.
“In terms of development outcomes, AIIF3 will create a quantifiable and measurable social and environmental impact by supporting energy and transport infrastructure access across sub-Saharan Africa. The fund will support the creation of over 1,500 jobs at the project level and enhance capacity building and skill transfer.”