The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have signed an agreement for a US$1.16million grant as part-funding for the NNPC-Abuja Independent Power Project (IPP). The IPP will generate 1,350 megawatts of electricity to ease the strain on the national grid and monetize the abundant natural gas in the country. The grant will also attract foreign direct investment for the rest of the funds needed. Read more details at theGuardian.
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