The Federal Government has secured a $238 million loan from the Japan International Cooperation Agency (JICA) to strengthen Nigeria’s national power grid. The deal was finalized following high-level engagements led by President Bola Tinubu and the Minister of Power during the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan.

According to government officials, the facility will be channeled into critical power infrastructure projects aimed at stabilizing electricity supply and expanding grid capacity nationwide. The agreement reflects Nigeria’s ongoing efforts to attract foreign investment and partnerships to revamp its struggling power sector, which remains a major obstacle to industrial growth and economic development.

The Tinubu administration has prioritized energy reforms as a key driver of its Renewed Hope Agenda. By partnering with Japan through JICA, the government says it hopes to accelerate power sector transformation, improve efficiency, and deliver reliable electricity to homes and businesses across the country.