{
  "id": 14068940,
  "title": "How Afreximbank’s $50m Lifeline Lit Up Aba Again",
  "url": "https://urgent.news/2026/10/12/how-afreximbanks-50m-lifeline-lit-up-aba-again",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-12T23:24:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/13/how-afreximbanks-50m-lifeline-lit-up-aba-again/"
  },
  "original_language": "en",
  "account": "Aba, a bustling commercial and industrial city in South-east Nigeria, is enjoying a significant power renaissance. Thanks to the partnership between the African Export-Import Bank (Afreximbank) and Geometric Power Limited, businesses that once struggled with diesel fumes are now running continuously 24 hours a day. Hospitals are experiencing a 40 per cent reduction in energy costs, schools are improving research and learning, and families are able to preserve food and plan their lives with renewed confidence.\n\nAt the heart of this transformation lies the Aba Integrated Power Project, promoted by Geometric Power Limited and bolstered by a decisive $50 million completion funding provided by Afreximbank. This financial lifeline has been critical in resurrecting an investment that had been delayed for nearly two decades due to political complications and the unfortunate sale of a ring-fenced portion.\n\nThis THISDAY tour of the Geometric Power plant at Osisioma and the customers of Aba Power Limited reveals a consistent story: reliable power is driving production, cutting costs, creating jobs, and restoring faith in private-led power reform in Nigeria. For manufacturers in the Osisioma Industrial Layout and Ariaria axis, the difference is stark. For instance, Miss Vivian Aneke, the Manager of Fineporter Nigeria Ltd, a producer of POP for ceilings and interior decorations, reports a growth in output from 40 to 75 per cent due to the constant supply of electricity. At Damson Industries, which manufactures shoe components, Chairman Mr. David Mmadueke remarks that the company has never used diesel since the start of its operations, relying entirely on electricity supplied by Aba Power. This has eliminated their need for diesel generators, which previously illuminated the area day and night, with interruptions only occurring due to gas shortages.\n\nThe impact of this power upgrade extends far beyond just the industrial sector. At the Geometric Power plant, the Administrator of Living World Mission Hospital, Mr. Charles Mazi, explains that stable electricity supply has reduced energy costs by 40 per cent, enabling uninterrupted operation of medical equipment and personnel. Similarly, at Ogbonnaya Onu Polytechnic, Dr. Kalu Okoro, the Provost, highlights the significant improvement in research works and teaching methods due to reliable electricity, which has also resulted in an 80 per cent reduction in energy costs and improved life expectancy by cutting down on carbon monoxide inhalation. Mrs. Ada Ngozi Greg-Ilobinso, a resident, shares her personal experience, noting that she can now buy food in bulk and save money since there is no wastage due to reliable power. Her household energy cost has dropped from about N600,000 monthly on diesel to a more manageable N75,000 on Aba Power.\n\nThese stories underscore the profound impact of Afreximbank's $50 million intervention, turning what was once a stalled project into a thriving hub of economic and social development.",
  "summary": "Aba, South-east Nigeria’s commercial and industrial heartbeat, is experiencing an unprecedented power renaissance. Businesses that once choked on diesel fumes are now running 24 hours, hospitals are cutting energy costs",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}