Abuja, July 15, 2024 – The federal government has engaged stakeholders to raise $50 million for state solar plant pilots and crucial upgrade of electricity infrastructure.
The Federal Ministry of Finance disclosed this in a statement in Abuja on Monday.
It said the engagement was part of a broader efforts to enhance power distribution and support market reforms aimed at fostering economic growth and development.
The statement said the plan included the rollout of 3.5 million electricity meters to improve power distribution across the country.
Additionally, the government is implementing measures to support tariff frameworks and market reforms.
The statement said towards this, Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, chaired a crucial meeting with World Bank delegates on Monday.
The delegation was led by Dr. Ndiamé Diop, the Country Director for Nigeria, and included Ms. Olu Verheijen, the Special Adviser to the President on Energy.
It said the meeting underscored the Federal Government’s commitment to boosting power sector investments as a major priority for achieving the desired objectives. (GBN)
