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FEC approves $1bn Chinese loan for Hydropower project

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Godsgift Onyedinefu

 

The Federal Executive Council (FEC) has approved another $1 billion Chinese loan for for the Gurara II Hydropower project.

The approval was given at a meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja, on Wednesday.

Confirming the loan approval, Suleiman Adamu, minister of water resources, said the loan will be sourced from the China-Exim Bank for the project.

According to him, the project is aimed at generating 360 megawatts of electricity.


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