The European Union (EU) has announced a significant
investment of 37 million Euros into Nigeria's power sector. Ambassador Samuela
Isopi, the EU Head of Mission to Nigeria, conveyed this during her visit to the
Minister of Power, Mr. Adebayo Adelabu, in Abuja, accompanied by Mr. Luca
Massimo, the new Head of Cooperation of the EU, and Mr. Godfrey Ogbemudia,
Programme Manager on Energy.
Isopi highlighted that this investment is separate from the
approximately 200 million Euros already granted to the sector since 2008. The
current support aims to enhance small hydro-power and solar energy for
healthcare facilities, alongside rural electrification through isolated and
interconnected mini-grids, and circular economy initiatives.
Expressing gratitude for the EU's consistent support,
Minister Adelabu emphasized the sector's ongoing challenges, particularly
liquidity issues. He stressed the importance of implementing a cost-reflective
tariff to ensure the market's sustainability and efficiency. Adelabu welcomed
the EU's programs, affirming their alignment with the ministry's strategy.
Furthermore, Isopi extended an invitation to the minister
for the inauguration of two EU-funded projects executed by the United Nations
Industrial Development Organization (UNIDO).
In response, Adelabu pledged collaboration with the EU,
especially concerning small hydro and state electrification projects under the
new Electricity Act. He acknowledged the necessity of continued partnership to
address the sector's pressing needs effectively.
