Nigeria to Start Building $5.8 Billion Power Plant in 2018

Government in funding talks with China’s Export-Import Bank
Nigeria’s power generation and transmission insufficient

An electricity pylon is reflected in a puddle outside the Kaleta hydroelectric dam, operated by China International Water & Electric Corp., in Kaleta, Guinea, on Sunday, Sept. 6, 2015. Guinea is in talks with China International Water & Electric Corp. to build a $2 billion hydro-power dam which would double its energy output, ensure bauxite mines can grow and allow it to become a regional power exporter, according to Lansana Fofana, the head of the nation’s hydro-power projects.Photographer: Waldo Swiegers/Bloomberg

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By Sophie Mongalvy, David Malingha, and Antony Sguazzin

January 30, 2018 at 12:30 AM UTC

Updated on

January 30, 2018 at 12:33 PM UTC

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Nigeria plans to start building a $5.8 billion hydro-power plant in the eastern Mambila region this year, after it agrees on loan terms with China’s Export-Import Bank.

“We hope to break ground this year if we can conclude the financing,” Power, Works and Housing Minister Babatunde Fashola said in a Jan. 23 interview in the capital, Abuja. “Contracts are in place. We are good to go.”