Abuja, Jan. 30, 2025 – The Federal Government requires $23.2 billion to embark on energy access programme to transform the power sector.
Out of the amount, $15.5 billion will be provided by the private sector.
Bolaji Tunji, the Spokesman for the Minister of Power, disclosed this in a statement on Thursday.
He said the programme, tagged the National Energy Compact, is being spearheaded by the Power Minister, Adebayo Adelabu.
Tunji said the initiative was an outcome of the recently concluded Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania.
“Through the energy access programme, tagged the national Energy Compact, the government aims to increase electricity access from 4 per cent to 9 per cent annually, boost access to clean cooking solutions from 22 per cent to 25 per cent annually, expand renewable energy’s share in the power generation mix from 22 per cent to 50 per cent, and mobilise $15.5bn in private investment to drive last-mile electrification.
While unveiling the programme, Adebayo said the programme would expand electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians.
“With 150 million Nigerians already electrified, Nigeria remains committed to ensuring universal access to affordable and sustainable energy by 2030,” he said.
The minister said that while the roadmap for expansion is clear, challenges such as vandalism of power infrastructure pose a significant threat to Nigeria’s electrification efforts.
He said the protection of the power assets was crucial to ensuring an uninterrupted electricity supply and sustaining progress.
Adebayo said government was intensifying efforts to curb vandalism through enhanced security measures, stricter penalties, and improved surveillance technologies.
