The European Union (EU) has announced a substantial investment of €37 million in Nigeria’s power sector, adding to the approximately €200 million in grants it has already provided since 2008. This development was revealed by the EU ambassador to Nigeria, Samuela Isopi, during a visit to the Minister of Power, Chief Adebayo Adelabu.
Accompanying Ambassador Isopi were Mr. De Luca Massimo, the new Head of Cooperation of the EU, and Mr. Godfrey Ogbemudia, the Programme Manager on Energy. During the meeting, Ambassador Isopi highlighted the EU’s various intervention programs in the power sector, emphasizing that the new support would encompass diverse sources of power supply.
The projects earmarked for funding include small hydro power initiatives, solar installations for healthcare facilities, rural electrification through isolated and interconnected mini-grids projects, and a circular economy project in the power sector. Ambassador Isopi mentioned that these projects are scheduled to commence this year and extended an invitation to the minister for the upcoming launch of two EU-funded projects on March 26.
In response, Minister Adelabu, accompanied by his Chief Technical Advisor, Mr. Adedayo Olowoniyi, expressed gratitude to the EU for their longstanding support to Nigeria. He stressed the importance of additional support to tackle the significant challenges facing the sector, highlighting liquidity issues as a primary concern that the government is actively working to address.
Minister Adelabu emphasized the necessity of a cost-reflective tariff to ensure the sustainability and efficiency of the power market. He underscored the enduring partnership between Nigeria and the EU in advancing the country’s power sector, applauding Ambassador Isopi’s recognition of the ministry’s efforts and the EU’s substantial support over the years.
“This investment underscores the enduring partnership between Nigeria and the EU in advancing our power sector,” said Minister Adelabu. “With over €200 million in grants funding various projects, their commitment to Nigeria’s energy landscape is undeniable.”
