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Nigeria Needs $400 Billion to Bridge Energy Deficits

NIGERIA-ECONOMY-ENERGY

Photographer: Florian Plaucheur/AFP/Getty Images

Nigeria needs more than $400 billion to meet its energy requirements and achieve zero emissions from fossil fuel.

The bulk of the money -- $310 billion -- is required to build electricity generation, transmission and distribution infrastructure, and $75 billion is needed for buildings, President Muhammadu Buhari said in emailed statement. Another $41 billion will help fund industry and transport facilities.