Nigeria Venture Plans to Raise $1.2 Billion to Fix Power Gap
- Company to buy and sell electricity meters to households
- Venture plans to issue 100 billion-naira bond next year
Market as day breaks in the Lugbe district of Abuja.
Photographer: KC Nwakalor/BloombergThis article is for subscribers only.
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A Nigerian venture plans to raise 480 billion naira ($1.2 billion) over the next three years to buy electricity meters and help power distributors plug a revenue gap in Africa’s most populous nation.