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Sun King, a Chinese company, has obtained a loan of $80 million to power 4 million homes in Nigeria in the next four to five years.

According to Chief Financial Officer Krishna Swaroop, the funds will be used to help finance the installation of power in as many as 4 million households over the course of the next four to five years, in addition to the 2 million that Sun King has previously sponsored.

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The largest off-grid solar company in the world, Sun King, obtained funding from a World Bank-backed initiative to increase electrification in Nigeria.

The company stated in a statement on Thursday that it had obtained a $80 million loan from Stanbic IBTC Bank Ltd. and the International Finance Corp. in naira. To date, it is the biggest local currency energy access facility in West Africa.

According to Chief Financial Officer Krishna Swaroop, the funds will be used to help finance the installation of power in as many as 4 million households over the course of the next four to five years, in addition to the 2 million that Sun King has previously sponsored. Greenlight Planet was Sun King’s previous name.

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Local News

President Asiwaju Bola Ahmed Tinubu received the newly Crowned Alaafin of Oyo at Abuja

Oba Abimbola Owoade visit marks his first official audience with President Bola Ahmed Tinubu since his coronation on April 12, 2025.

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On Friday President Asiwaju Bola Ahmed Tinubu received the newly Crowned Alaafin of Oyo, Oba Abimbola Owoade, and members of his entourage at the Presidential Villa in Abuja.

Oba Abimbola Owoade visit marks his first official audience with President Bola Ahmed Tinubu since his coronation on April 12, 2025.

The King and his entourage arrived at the Aso Rock Villa shortly after the Jumaat prayers, after which he had a closed-door meeting with the President, service chiefs and the National Security Adviser, Mallam Nuhu Ribadu.

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Local News

FULL VIDEO: President Bola Ahmed Tinubu received newly crowned Alaafin of Oyo, Oba Abimbola Owoade, at the Presidential Villa.

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“Your ascendance to the throne of your forefathers is historic; it’s the will of God and the hands of the people and you will be the first Alaafin to be here… I really appreciate your foresight for development, your humbleness and the fact that you are upholding the tradition, this inherited tradition and your ascension likewise. I myself as the divine will of the Almighty.”

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Business

NDPHC Partners NASENI, Haier to Deliver 20 MW Power to Kano Challawa Industrial Area,

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Haier Technologies and the National Agency for Science and Engineering Infrastructure (NASENI) have partnered with the Niger Delta Power Holding Company (NDPHC).
20 megawatts (MW) of embedded solar electricity will be provided by the partnership to companies in Kano’s Challawa neighbourhood.

This was said in a statement released in Abuja on Friday by Mr. Emmanuel Ojor, Head of Corporate Communications and External Relations at NDPHC.
When she led a high-level management team on a site study and assessment of the Challawa Industrial District in Kano, Mrs Jennifer Adighije, the Managing Director of NDPHC, was quoted by Ojor as saying this.

He stated that Mr. Kassim Abdulahi, the Executive Director of Generation at NDPHC, and Mr. Omoregie Ogbeide-Ihama, the Executive Director of Corporate Services at NDPHC, accompanied her on the visit.

Adighije regarded the visit as emotional and crucial while meeting with Challawa business owners.

She emphasised how important the industrial sector was to the creation of national income and socioeconomic advancement.

Being to the Challawa Industrial Area is a delight, she remarked. This is an emotional and significant visit.

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