The European Union intends to allocate €37 million to support Nigeria’s struggling power sector, as revealed by the EU Ambassador to Nigeria, Samuela Isopi. According to a statement released by the power ministry on Friday, Isopi made this announcement during a meeting with the Minister of Power, Adebayo Adelabu. This proposed investment of €37 million stands in contrast to the grants totaling around €200 million that the European Union has already invested in the sector since 2008.
Accompanying the EU ambassador were 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 various intervention programs in the power sector during the visit, highlighting that the current support would focus on small hydropower and solar projects for healthcare facilities. The fresh intervention would also extend to rural electrification through isolated and interconnected mini-grid projects, as well as a project on the circular economy in the power sector.
Isopi mentioned that these projects are expected to commence this year. In response to the EU delegation, Adelabu acknowledged the liquidity challenges within Nigeria’s power sector as the primary issue the government is working to resolve. The Minister assured collaboration with the EU on its programs, particularly in the areas of small hydropower and state electrification projects, within the framework of the new Electricity Act.
Despite privatization in 2013, the Nigerian Electricity Supply Industry has continued to grapple with power outages and other challenges over the past decade, as highlighted by Agenda News.