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Nigeria Secures $1.1 Billion AfDB Loan to Provide Electricity for 5 Million People by 2026 – Tinubu

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Nigeria Secures $1.1 Billion AfDB Loan to Provide Electricity for 5 Million People by 2026 – Tinubu

Nigeria Secures $1.1 Billion – AfDB Invests in Nigeria’s…

AfDB Invests in Nigeria’s Power Sector to Boost Electricity Access

Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to enhance electricity access for 5 million people by the end of 2026, according to President Bola Tinubu.

Tinubu, speaking through Minister of Power Adebayo Adelabu at the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, highlighted the transformative impact of the AfDB’s investments in Nigeria’s energy sector.

In addition to the $1.1 billion loan, Tinubu also confirmed that the AfDB has allocated $200 million to the Nigeria Electrification Project, which is expected to provide power to 500,000 people by the end of 2025.

“This is an ambitious goal, but we can achieve it together,” Tinubu stated. “As Nigeria’s President, I am committed to making energy access a top priority.”

Nigeria Set to Benefit from AfDB and World Bank Investments

Beyond the AfDB’s current funding, Nigeria is also set to benefit from an upcoming $1.2 billion AfDB investment in the Nigeria Desert to Power programme and a facility for the Nigeria-Grid Battery Energy Storage System.

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Tinubu outlined the specifics of the additional investments:

  • $700 million for the Nigeria Desert to Power Programme
  • $500 million for the Nigeria-Grid Battery Energy Storage System, which will provide electricity to 2 million more people

Furthermore, the World Bank’s $750 million support for expanding distributed energy access through mini-grids and standalone solar systems is expected to bring electricity to 16.2 million Nigerians.

Global Support for Nigeria’s Energy Transformation

President Tinubu expressed gratitude to Ajay Banga, President of the World Bank Group, and Akinwunmi Adesina, President of AfDB, for their commitment to transforming Africa’s energy landscape. He also acknowledged contributions from:

  • UN Sustainable Energy for All
  • The Rockefeller Foundation
  • The Global Energy Alliance for Development

“Africa is rich in energy resources, yet millions of our citizens still lack access to reliable and affordable energy. This situation is unacceptable. It is our responsibility to take collective action to change this narrative,” Tinubu stated.

Nigeria’s Renewable Energy Future: A Path to Economic Growth

With these investments, Nigeria is positioning itself as a leader in renewable energy expansion across Africa. The funding from AfDB and the World Bank will accelerate Nigeria’s electrification efforts, boost economic growth, and improve the quality of life for millions of citizens.

Stay updated with the latest Nigeria energy news and power sector developments by following our reports.

 

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YipeeBet: The Ultimate Online Casino Experience for Smart Gamers

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In the ever-evolving world of online gaming, YipeeBet has positioned itself as a top-tier platform, delivering players an exciting, seamless, and rewarding experience. Whether you’re a seasoned bettor or a casual gamer, YipeeBet offers an unparalleled mix of entertainment, bonuses, and fast payouts that keep you coming back for more.

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Join the YipeeBet Revolution

With a commitment to providing top-notch gaming and betting services, YipeeBet continues to redefine online gaming in Nigeria. Whether you’re in it for the thrill, the winnings, or just pure entertainment, YipeeBet is the ultimate destination.

Sign up today at www.yipeebet.com and start winning!

Follow us on social media for the latest updates and exclusive promotions: Instagram | X (Twitter) | Facebook @yipeebetcasino

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NNPC acquires 15% stake in a $7m CNG plant in Delta

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The Nigerian National Petroleum Company (NNPC) Limited through its subsidiary NNPC Gas Marketing Limited (NGML), has acquired a 15 percent

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Best Cryptos To Buy Now: Why These Top 5 Coins Could Explode Amidst Meme Coin and Altcoin Super Cycles

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Some market observers anticipate that meme coin and altcoin super cycles could be on the horizon, prompting crypto enthusiasts and buyers to search for the best cryptos to buy now. Among the cryptocurrencies gaining traction ahead of these potential phenomena are Toncoin, Polkadot, MANTRA, B3 (Base), and the new altcoin JetBolt (JBOLT). 

While still in presale, the zero-gas altcoin JetBolt is receiving an overwhelming response from blockchain whales and crypto aficionados. It has sold more than 320 million tokens, a huge feat for this young crypto.

Can JetBolt and the rest of the featured coins sustain their current momentum? Let’s discover why these top 5 coins could explode amidst meme coin and altcoin super cycles. 

The Ultimate List of the Best Cryptos to Buy Now: 

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  1. JetBolt (JBOLT): Young altcoin with zero-gas tech and rapidly expanding presale.

  2. Toncoin (TON): Native token of “The Open Network.”

  3. Polkadot (DOT): Blockchain project that connects blockchains.

  4. MANTRA (OM): DeFi services ecosystem offering RWA tokenization. 

  5. B3 (Base) (B3): A Layer-3 solution on the Base chain. 

Best Cryptos To Buy Now: An Extensive Overview

1) JetBolt (JBOLT)

At its core, JetBolt is a young altcoin offering groundbreaking features. Its zero-gas technology enables crypto users to transact without paying for gas fees. JetBolt also boasts an intuitive crypto-staking platform that allows stakers to earn rewards when they simultaneously stake their tokens and interact with friends. 

Additionally, JetBolt offers an AI-powered crypto insights tool that showcases crypto news and stories arranged according to bearish or bullish market sentiment. 

With the JetBolt presale underway, early buyers can get exclusive perks, such as extra tokens when they purchase Alpha Boxes or JBOLT tokens in batches. JetBolt has already sold over 320 million tokens since its launch.

2) Toncoin (TON)

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Toncoin is the native token of “The Open Network” (TON), a decentralized blockchain platform. It is utilized for transaction fee payments, powers the network’s operations, and serves as a governance token. 

3) Polkadot (DOT)

Polkadot is a blockchain project that connects blockchains, enabling data to be sent seamlessly across various blockchain networks. DOT is the network’s native token, used for staking and governance. 

Chart of Polkadot’s price movement over the past 24 hours shows DOT trading at $5.15 based on CoinMarketCap data

4) MANTRA (OM)

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MANTRA is a decentralized finance (DeFi) services ecosystem built on the Rio Chain. MANTRA offers financial services such as real-world asset (RWA) tokenization that adhere to regulatory compliance. Holders use OM tokens to partake in decision-making processes inside the ecosystem. 

5) B3 (Base) (B3)

B3 is a Layer-3 solution on the Base chain created for seamless blockchain gaming for developers and players. According to Logan Hitchcock’s article on Decrypt, B3 has more than 80 games and has attracted 6 million players since 2024. 

Best Cryptos to Buy Now: Key Takeaways

In this extensive overview, we discovered why Toncoin, Polkadot, JetBolt, MANTRA, and B3 (Base) are seen as strong contenders for the best cryptos to buy now. JetBolt is a captivating altcoin to explore, thanks to its suite of cutting-edge features and its ongoing presale. 

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While each cryptocurrency is innovative in its own way, it’s impossible to predict whether any of these coins could explode in the potential meme coin and altcoin super cycles because of market volatility. 

For more details about JetBolt’s features and ongoing presale, visit the official JetBolt website today.

FAQs: 

What are the top 5 crypto coins?

Here are the top 5 coins that are gaining popularity amidst the potential meme coin and altcoin supercycles: 

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  • Toncoin 

  • Polkadot

  • JetBolt 

  • MANTRA 

  • B3 (Base)

What crypto is best to buy now?

Based on emerging crypto industry trends and other market developments, Toncoin, Polkadot, JetBolt, MANTRA, and B3 (Base) are some of the best cryptos to buy now. Each demonstrates qualities that make them appealing to crypto buyers. 

This written piece does not offer any financial advice. All cryptocurrencies carry significant risks and are subject to the crypto market’s volatility. Thus, due diligence and extensive research are essential before acquiring a crypto asset.

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