The African Development Bank has approved $124.2m funding to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria.

The credit also includes $20m loan from African Growing Together Fund (AGTF).

The project is set to address obstacles in water supply services to households in the densely populated project area.

It is expected to provide access to safe drinking water and sanitation to the residents of Akure city and its neighbourhoods.

The African Development Bank Nigeria regional office senior director Ebrima Faal said: “The project will particularly contribute to improving the living conditions of the communities in the project area.

“Involving these communities in the public awareness and marketing activities, will increase the project’s ownership and ensure they pay for the water supply and sanitation services.”

The bank said that the project is expected to strengthen the Federal Government’s capacity to facilitate urban Water Supply and Sanitation reforms.

Spanning five years from 2020 to 2025, the project will involve a total cost $222.69m. The loan will also support to install sanitation infrastructure for schools, hospitals, markets.

The project that combines “hard” water, sanitation and environmental protection infrastructure with “soft” analytical and institutional reform support is in line with the Bank’s Ten-Year Strategy (TYS) and its High 5s priority areas, the Integrated Water Resources Management (IWRM) Policy.

Upon completion, the project is expected to benefit 1.3 million residents of Akure City and vicinities.

At the Federal level, the project’s Urban Water Reform component will establish a water and sanitation investment program which would contribute to scaling up of the National WASH Action plan 2018-2030.

African Development Bank recently offered loan to transmission project in Nigeria

Recently, the bank has approved $210m loan to the Federal Republic of Nigeria for the Nigeria Transmission Expansion Project (NTEP1) in NigeNigeriaria.

The project aims to rehabilitate and upgrade the country’s transmission lines and improve electricity distribution and supply.