European Union to Invest €37m in Nigeria’s Struggling Power Sector

European Union to Invest €37m in Nigeria's Struggling Power Sector

The European Union (EU) has announced plans to allocate €37 million towards Nigeria’s struggling electricity sector, according to the EU Ambassador to Nigeria, Samuela Isopi.

During a visit to Adebayo Adelabu, the Minister of Power, Isopi shared details of the proposed investment, which differs from the previous grants amounting to approximately €200 million that the EU has provided to the sector since 2008.

Accompanied by Mr Luca Massimo, the new Head of Cooperation of the EU, and Mr Godfrey Ogbemudia, the Programme Manager on Energy, Isopi discussed the EU’s intervention programs in the power sector. The current support will focus on small hydropower and solar projects for healthcare facilities, rural electrification through isolated and interconnected mini-grid projects, and the circular economy in the power sector project.

The ambassador confirmed that these projects are scheduled to commence within the current year.

In response to the EU delegation, Minister Adelabu highlighted the liquidity challenges faced by Nigeria’s power sector as the primary issue the government is working to address. He pledged to collaborate with the EU on various programs, particularly 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 continued to grapple with power outages and other challenges over the past decade.

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