USAID and Nigeria Sign Historic $310M Power Sector Development Agreement

USAID and Nigerian Federal Ministry of Power Sign Major Deal to Tackle Electricity Challenges

The United States Agency for International Development (USAID) and the Nigerian Federal Ministry of Power have signed a memorandum of understanding (MOU) to unlock a significant investment of N115 billion in Nigeria to address the country’s persistent electricity challenges.

The investment is part of a US government grant-funded technical assistance program aimed at supporting power sector development and reforms in Nigeria. The MOU was signed by USAID’s Nigeria Mission Director, Melissa Jones, and the Permanent Secretary of the Federal Ministry of Power, Mahmuda Mamman.

According to Jones, the partnership’s primary goal is to strengthen collaboration between USAID and the Nigerian government, as well as provide a framework for partnerships with other key stakeholders, including state and local governments, electricity generation and distribution sectors, and the off-grid sector.

Nigerian Minister of Power, Adebayo Adelabu, expressed gratitude for USAID’s continued support in addressing Nigeria’s power sector challenges. He emphasized that the partnership marks a significant milestone in the country’s journey towards achieving a sustainable and reliable electricity supply for all Nigerians.

The development comes at a crucial time, as Nigeria’s power sector challenges continue to hinder progress across distribution, generation, and transmission sectors. A staggering 85 million Nigerians lack access to grid power, and many have suffered from unreliable power supply for decades following privatization in 2013.

With this partnership, the Nigerian government is committed to ensuring that the interventions deliver tangible benefits to all Nigerians, promoting economic growth, and driving sustainable development. The investment is expected to bring much-needed relief to the country’s electricity-challenged residents.

Tags:

Recent News

Fuel price may drop to N800 per litre - Marketers

Nigerian petrol marketers reduce fuel pump price for patronage

Naira records highest appreciation against dollar since Trump's tarrif pause

Naira gains N32.38 against dollar week-on-week

Russian central bank makes major change — RT Business News

Russia Cuts Key Interest Rate to 20% as Inflation Slows Down

Scroll to Top