India to give $100 million aid for Nigeria's power sector

June 08, 2012 10:03

India has committed a $100 million line of credit to Nigeria for improvement in its power sector that has been battling with instability and corruption.

Indian High Commissioner to Nigeria Mahesh Sachdev announced this during the inauguration of the manufacturing and repair of power transmission equipment plant developed by India's Skipper Group in Ikorodu area of the southern state of Lagos on Thursday.

"Nigerian and Indian governments will soon sign the agreement for the line of credit," Sachdev said, adding that 12 Indian companies have shown interest in investing in Nigeria's power sector.

"India, which is Nigeria's second-largest trading partner, has both the capacity and expertise to support Nigeria's ambitious development plans in the power sector," he said.

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