The Federal Government has been granted $200 million loan for the funding of the nation’s electrification project.“The Board of Directors of the African Development Bank Group has approved a $150 million sovereign loan to the Federal Government of Nigeria to finance the Nigeria Electrification Project (NEP),” AfDB said in a statement.

“The Africa Growing Together Fund (AGTF), a $2 billion facility sponsored by the People’s Bank of China and administered by the African Development Bank, has also approved a $50 million loan to the Federal Government of Nigeria to co-finance the project.”
According to the statement, the joint financing is targeted at supporting the government efforts to address critical energy access deficit in the country, and catalyze achievement of universal energy access by 2030 targets.”

In 2017, the World Bank approved $350 million loan to Nigeria for the development of rural electrification projects in the country.“By supporting the electrification of unconnected and underserved communities, NEP will contribute materially to their economic development,” said the Managing Director of the rural electrification agency, Damilola Ogunbiyi.“Access to reliable, affordable and clean electricity will result in savings for households and businesses, which can be deployed to other uses.”
[url][/url]https://www.dailynewscable.com/afdb-grants-nigeria-200m-loan-to-finance-electricity-projects/

There are several initiatives that this present government of Muhammad Buhari isn't taking seriously, Youwin program of Jonathan administration gave grants to several entrepreneurs which helped to create jobs.

This present administration started a laudable program called GEM project supported by the world bank(World bank supported the program with 160 million dollars loan) because they are seriously concerned about youth joblessness in Nigeria .

http://projects.worldbank.org/P103499/nigeria-growth-employment-states?lang=en

and world class accounting firms like PriceWaterCoopers were involved to ensure the program runs smoothly .

Few people from Youwin 3 were merge to the GEM project and given first tranche of the grant ,few got second tranche and neglected afterwards .

Several people already went through the GEM induction and interview and were selected but the Ministry of trades and commerce have refused to release the grant. The question everyone is asking is Why, why and why.

Job creation is not rocket science... Entrepreneur in Nigeria have ideas and if the govt can assist them,thousands and millions of jobs would definitely be created.

Please what happened to the GEM project of the federal government of Nigeria. Anyone with answers,please??

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