The European Investment Bank (EIB) has indicated its willingness to partner with Nigeria's federal government to improve electricity supply in the country.

EIB vice president, Plutarchos Sakellaris revealed this during a visit to the Power Minister, Lanre Babalola, last week in Abuja.

Daily Trust reports, Sakellaris pledged that the EIB would help finance power projects in Nigeria on a public private partnership basis.

Babalola said Nigeria has to achieve a generating capacity of about 30,000 megawatts in order for the country to achieve its objective of becoming one of the world's 20 largest economies by 2020.