The African Development Bank (AfDB) has approved 124.2 million dollars loan to finance urban water sector reform in Nigeria.
A statement issued by the bank said that the amount includes an African Growing Together Fund (AGTF) loan of 20 million dollars.
It said that the overall project cost is 222.69 million dollars and would span through five years from 2020 to 2025.
The statement added that the project was set to address bottlenecks in critical water supply services to households in the densely populated project area.
Mr Ebrima Faal, Senior Director at the Bank’s Nigeria Regional Office, said that the project would strengthen Federal Government’s capacity to facilitate urban water supply and sanitation reforms.
“It would provide residents of Akure city in Ondo State and its environs access to safe drinking water and sanitation.
“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,’’ Faal explained.