The Africa Development Bank (AfDB) says it has approved a loan of 155 million dollars for
Economic and Power Sector Reform Programme (EPSERP) in Nigeria. A statement by Fatimah Alkali, Senior Communications Officer of AfDB in Abuja on Friday said that the loan became effective in October, 19, 2012.
Recent media reports had indicated that there might be a face-off between the Senate and the Federal Government on plans to secure a facility of 174 million dollars from AfDB.
The media reports also revealed that part of the security for the loan was the handing over the management of Transmission of Company of Nigeria (TCN) to AfDB.