On 19 July 2024, the Board of Directors of the African Development Bank Group (AfDB) approved in Abidjan the granting of a 500 million dollar loan to the Federal Republic of Nigeria.

The ADB aims to finance the first phase of the Economic, Governance and Energy Transition Support Programme (EGET-SP). It is a new program that aims to accelerate the transformation of the country's electrical infrastructure and improve access to cleaner sources of energy. This loan will help bridge the funding gap in the federal budget in fiscal year 2024-2025 and more specifically support the implementation of the country's new electricity law and Nigeria's Energy Transition Plan. . The Energy Transition Plan foresees the development, by 2050, of an installed electricity capacity of 250 gigawatts (GW), 90% of which will come from renewable energies. It will provide access to clean cooking to most of the population by 2030, thanks to liquefied petroleum gas (LPG), biogas, biofuels such as ethanol and