US to invest US$1b in Nigerias power sector

ABUJA: Power Africa, an initiative by the United States government to light up Africa, plans to invest about one billion US dollars on the power sector in Nigeria, says programme co-ordinator Andrew Herscowitz.

Announcing this at a media conference here Tuesday, he said the US was committed to strengthening the power sector in Nigeria, adding that Washington had already committed billions of dollars in funding the nations energy projects. Herscowitz said the project also targets unlocking the substantial wind, solar, hydro power, natural gas, biomass, and geothermal resources on the continent. He said that functional power distribution companies were critical to the development of the country.