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Nigeria Approves Siemens Loan to Revamp Power Infrastructure

  • Project to bolster operational capacity fivefold to 25,000 MW
  • Planned tariff hike to repay producers repeatedly delayed
Photographer: Waldo Swiegers/Bloomberg
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Nigerian President Muhammadu Buhari approved counterpart funding for a deal that will see Siemens AG upgrade the nation’s dilapidated power infrastructure.