[PHCN] Benin Disco secures USTDA grant

Benin Electricity Distribution Plc (BEDC) has become the first distribution company to benefit from a grant funding by United States Trade and Development Agency (USTDA).

The grant funding is offered for the purpose of Technical Assistance (TA) to update and modernise the electricity distribution network for BEDC in Nigeria.

Minister of Power, Professor Chinedu Nebo, had earlier hinted that the global lenders were beginning to evade investment in Nigeria’s power sector due to fears that the electricity tariff order in operations in Nigeria could not guarantee good return on investments for the new owners.

He maintained that the situation on ground at the power industry made efforts to make the electricity tariff competitive necessary. The BEDC however, overcame these challenges by securing funding from USTDA.

- See more at: http://www.vanguardngr.com/2014/06/power-benin-disco-secures-ustda-grant/#sthash.Id2sylJQ.dpuf