RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Nigeria and EU Sign £17.9 Million Agreement to Enhance Off-Grid Electricity Access

Victoria Attah by Victoria Attah
November 1, 2024
in Economy, Energy
Reading Time: 2 mins read
A A
0
GDP in Euro Area Declines by 0.1%, While EU Records a Modest 0.1% Increase
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Federal Government of Nigeria has officially signed a £17.9 million agreement with the European Union and the German Government to support the country’s off-grid electricity initiatives. This funding is part of the third phase of the Nigerian Energy Support Programme (NESP), aimed at promoting investments in renewable energy, improving energy efficiency, and enhancing rural electrification.

Launched in 2013, the NESP is a technical assistance initiative co-funded by the EU and Germany’s Federal Ministry for Economic Cooperation and Development, and is implemented in collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Nigeria’s Ministry of Power.

AlsoRead

FG Raises N748.64 Billion from FGN Bonds as Borrowing Rates Ease

Foreign Reserves Climb $12.76 Billion in a Year, Gain $708 Million in September

Lagos Ports Handle 84.6% of Nigeria’s N41.44 Trillion Merchandise Trade in Q2

At the launch and steering committee meeting for NESP III, Inga Stefanowicz, Head of Section for Green and Digital Economy at the EU Delegation to Nigeria, emphasized the importance of collaboration among all stakeholders to achieve a cleaner energy future. She stated that the programme is set to provide electricity access to 154,000 people and introduce clean cooking gas to an additional 30,000 individuals, alongside generating eight megawatts of renewable energy.

Stefanowicz noted, “Achieving a just energy transition is a shared responsibility. The EU has been a steadfast partner, supporting Nigeria’s energy security and sustainable development goals.” She highlighted ongoing efforts to innovate and attract renewable energy investments, aimed at ensuring reliable power supply for beneficiaries.

Similarly, Johannes Lehne, Deputy Ambassador at the German Embassy, reaffirmed Germany’s commitment to assisting Nigeria in reaching its energy transition targets. He underscored the significance of renewable technologies and investments in diversifying Nigeria’s energy mix and addressing the country’s energy challenges.

The third phase of the NESP has seen additional funding of €9 million from the EU, bringing the total budget to €17.9 million. This financial support is designed to help Nigeria tackle the substantial gap in electricity access, with approximately 100 million Nigerians currently lacking reliable electricity.

Mahmuda Mamman, Permanent Secretary of the Ministry of Power, remarked on the project’s potential to bridge the electricity access gap, particularly for rural communities. He noted the importance of renewable energy in meeting the needs of underserved areas.

Duke Benjamin, Head of Programme at NESP, reiterated the initiative’s goal of providing electricity to rural communities disconnected from the national grid. He acknowledged the ongoing challenges within Nigeria’s electricity sector, which has seen the national grid collapse multiple times in 2024 alone.

As Nigeria continues to confront its energy issues, the commitment from the EU and German government represents a significant step toward enhancing the country’s electricity infrastructure and promoting sustainable energy solutions.

Tags: #NigeriaEuropean UnionRenewable Energy
Previous Post

Currency Outside Banks Sees Massive Surge as N1.6 Trillion Leaves Bank Vaults

Next Post

CBN Mandates Banks to Obtain Approval Before Altering Core Banking Systems

Related News

FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

FG Raises N748.64 Billion from FGN Bonds as Borrowing Rates Ease

by Victoria Attah
September 17, 2026
0

The Federal Government raised N748.64 billion from its September 2026 domestic bond auction, with investors showing strong demand for both...

NEC Affirms CBN $3 Billion Loan for Naira Stability

Foreign Reserves Climb $12.76 Billion in a Year, Gain $708 Million in September

by Victoria Attah
September 17, 2026
0

Nigeria’s gross foreign exchange reserves rose by $12.76 billion year-on-year to $54.61 billion as of 14 September 2026, reinforcing the...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Lagos Ports Handle 84.6% of Nigeria’s N41.44 Trillion Merchandise Trade in Q2

by Stephen Akudike
September 15, 2026
0

Lagos ports processed an estimated N35.07 trillion, or about 84.6 per cent, of Nigeria’s N41.44 trillion total merchandise trade in...

Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

FG Raises N728.98 Billion Bond to Clear Power Generators’ Debts

by Jide Omodele
September 15, 2026
0

The Federal Government has raised N728.979 billion through the second issuance under its N4 trillion Power Sector Multi-Instrument Issuance Programme,...

Next Post
Investment Bankers Applaud CBN Reforms Amidst Challenges, Embrace Growth Opportunities

CBN Mandates Banks to Obtain Approval Before Altering Core Banking Systems

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

FG Raises N748.64 Billion from FGN Bonds as Borrowing Rates Ease

September 17, 2026
Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

September 17, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • What Nigerian should know about the new Dual-Purpose Debit Card and National Identity Card

    0 shares
    Share 0 Tweet 0
  • FX Market Turnover Surges to $3.05 Billion, Highest in Three Months

    0 shares
    Share 0 Tweet 0
  • Dangote Cement eyes $700m forex earnings from terminals

    0 shares
    Share 0 Tweet 0
  • UK Investigates Amazon Over Suspected Anti-Competitive Business Practices

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>