The European Union (EU) is set to invest €37 million
in the Nigerian power sector.
Bolaji Tunji, special adviser on strategic
communication and media relations to the Minister of
Power, Adebayo Adelabu, disclosed this in a
statement on Friday.
Mr Tunji said this is apart from about 200 million
grants invested in the sector since 2008.
He said this disclosure was made by the EU
ambassador to Nigeria, Samuela Isopi , during a visit to
Mr Adelabu on Thursday.
FIRS
According to the statement, Ms Isopi was
accompanied by the new head of cooperation of the
EU, DE Luca Massimo and the Programme Manager
on Energy, Godfrey Ogbemudia.
During the visit, Mr Tunji said Ms Isopi spoke on the
EU’s various intervention programmes in the power
sector noting that the current support would cover
small hydropower, solar for health care facilities,
rural electrification with isolated and interconnected
mini-grids projects, and circular economy in power
sector projects.
She said the projects will commence this year.
Ms Isopi, according to the statement, also used the
opportunity to invite the minister to an upcoming
launch of two projects funded by the European Union
and implemented by the United Nations Industrial
Development Organisation (UNIDO) which will both
be launched on 26 March.
In his response, Mr Adelabu who received the
ambassador in the company of his Chief Technical
Advisor, Adedayo Olowoniyi, expressed appreciation
to the EU for the support they have been giving to
them while noting that more support is needed to
address the enormous challenges in the sector.
He identified the liquidity issue as the main problem
that the government is trying its best to resolve and
said that the market will only be sustainable and run
efficiently when there is a cost-reflective tariff in
place.
Mr Tunji added that the minister was very excited
about EU programmes for the sector and confirmed
the alignment of these programmes with the
ministry’s strategy for the sector while promising to
work with the EU on their programmes especially on
small hydro and state electrification within the new
act.
Nigeria has struggled with poor power supply for
decades, a challenge that is estimated to cost
businesses about $29 billion yearly, according to the
World Bank.
The country has the lowest access to electricity
globally, with about 92 million persons out of the
country’s 200 million population lacking access to
power, according to the Energy Progress Report 2022
released by Tracking SDG 7.

https://www.premiumtimesng.com/news/top-news/669146-eu-to-invest-e37-million-in-nigerias-power-sector.html
mukina2 , dominique
mynd44 oam4j seun lalasticlala seun nlfpmod

Good development
God bless Nigeria our President Tinubu and our leaders
God punish all unpatriotic Nigerians sabotaging our Economy

ManirBK:
Good development

audio investment

You having sense is like making 1naira= I dollar
It’s can never be possible

Osiris12:
audio investment

You having sense is like making 1naira= I dollar
It’s can never be possible

pls why always bad mouth to our nation