FG Unveils $23bn Energy Access, Expansion Investment

Date:

By ABAH ADAH, Abuja

Federal Government has unveiled an ambitious energy access programme that will see to the transformation of the nation’s energy sector. 

The programme which is being spear-headed by the Minister of Power, Chief Adebayo Adelabu, was put on the table at the just concluded Mission 300 Africa Energy Summit held in Dar es Salam, Tanzania, according to a statement t from the ministry.

The two-day Summit which brought together African leaders, business executives, and development partners to advance the continent’s ambitious energy agenda hosted by the government of Tanzania, the African Union, the African Development Bank, AfDB, Group, and the World Bank Group aims to accelerate electricity access for 300 million Africans by 2030.

Through, the energy access programme, tagged National Energy Compact, NEC, the government aims to increase electricity access from 4% to 9% annually to close  energy gap, boost access to clean cooking solutions from 22% to 25% annually, expand renewable energy’s share in the power generation mix from 22% to 50%, and mobilize $15.5 billion in private investment to drive last-mile electrification. 

The efforts align with UN Sustainable Development Goal 7 ,SDG7, which seeks to ensure universal access to modern energy services.

While unveiling the ambitious  programme, the Minister said it will  expand electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians. 

“With 150 million Nigerians already electrified, Nigeria remains committed to ensuring universal access to affordable and sustainable energy by 2030”, the  Minister said.

Adelabu, however, noted that while the roadmap for expansion is clear, challenges such as vandalism of power infrastructure pose a significant threat to Nigeria’s electrification efforts. 

“Transmission towers, pipelines, and distribution equipment have been targeted and attacked, disrupting supply and deterring potential investors”. 

He stressed that protecting power assets is crucial to ensuring uninterrupted electricity supply and sustaining progress, adding that,  “the  government is intensifying efforts to curb vandalism through enhanced security, stricter penalties, and improved surveillance technologies”.

According to him, achieving Nigeria’s electrification targets requires significant investment, and the government is prioritising private sector participation to unlock additional resources. 

“The Compact outlines a $23.2 billion investment target, with $15.5 billion expected from private investors. These funds will be directed toward expanding power generation, strengthening transmission and distribution networks, and integrating distributed renewable energy solutions”, he said.

Recognising that achieving universal energy access demands collective action, the Minister reiterated government’s call on development partners, philanthropies, and the private sector to join the transformative journey.

 “By implementing the action plan in the National Energy Compact, Nigeria is positioning itself as a leader in Africa’s energy transition and creating opportunities for economic growth, job creation, and industrialisation. 

“As the Mission 300 initiative gains momentum, Nigeria’s strong commitment to energy sector reforms, infrastructure expansion, and investment mobilisation will be crucial in shaping the future of electricity access across the continent”, the Minister noted.

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