The Federal Executive Council has approved a loan of $20 million for Lagos State strategic transportation plan.
“The project is being undertaken by Lagos State agency, LAMATA, under its own strategy. So, the Federal Government is borrowing to unlearn to Lagos following the same terms and conditions that we signed. Our assessment is that Lagos State has the capacity to repay the loan.” She said the project has four components: first is solar hybrid mini-grid for rural economic development; the second is productive appliances equipment for off-grid communities; the third is energising education and the fourth component is institutional capacity building.
Source: Loan Digest (loandigest.net)
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