The European Union has announced a €37 million investment in Nigeria’s struggling power sector to tackle the country’s energy issues. EU Ambassador to Nigeria, Samuela Isopi, revealed this during a meeting with Nigeria’s Minister of Power, Adebayo Adelabu.
This investment marks a significant contribution, distinct from the €200 million in grants that the EU has previously injected into Nigeria’s power sector since 2008. Isopi, accompanied by Mr. Luca Massimo and Mr. Godfrey Ogbemudia from the EU, emphasized the EU’s ongoing commitment to supporting Nigeria’s power sector.
The EU’s intervention will encompass small hydropower and solar projects aimed at enhancing healthcare facilities, as well as initiatives for rural electrification through isolated and interconnected mini-grid projects, and a circular economy in the power sector project. Isopi affirmed that these projects are set to commence within the current year.
In response, Minister Adelabu highlighted the liquidity challenges within Nigeria’s power sector as a key area the government is dedicated to addressing. He pledged to collaborate with the EU, particularly in implementing the small hydropower and state electrification projects under the new Electricity Act.
Despite the privatization of the Nigerian Electricity Supply Industry in 2013, the sector has grappled with persistent power outages and numerous hurdles over the past decade. The EU’s latest financial commitment signals a renewed effort to alleviate Nigeria’s longstanding energy struggles.
