24.2 C
Lagos
Monday, July 22, 2024
spot_img

Nigeria, USAID sign N115.2bn MoU on electricity reform, clean energy

The Federal Government of Nigeria and the United States Agency for International Development (USAID) have signed a Memorandum of Understanding (MoU) on the effective implementation of N115.2 billion for Electricity Reforms and Clean Energy Transition in the country.

USAID
L-R: Director, Planning, Research and Statistics, Mrs Bosede Olaniyi; Permanent Secretary. Federal Ministry of Power, Alhaji Mahmuda Mamman; Minister of Power, Chief Adebayo Adelabu; Mission Director, United States Agency for International Development (USAID), Melissa Jones; and Coordinator, Power Africa, Richard Nelson, at the signing of a Memorandum of Understanding (MoU) between the Federal Ministry of Power and USAID. in Abuja on Wednesday

Speaking at the event which is part of government’s commitment towards electricity sector reforms, market transparency, liquidity, expanding Nigeria’s access to sustainable, reliable and affordable Power supply on Wednesday, July 10, 2024, in Abuja, Minister of Power, Chief Adebayo Adelabu, said the N115.2 billion partnership with USAID represents a pivotal step towards overcoming the long-standing challenges in providing reliable and sustainable power to all Nigerian.

“It strengthens our collaboration and provides critical resources to tackle the challenges in our Power Sector,” Adelabu said, adding that the event aligned perfectly with the national goals of achieving net-zero carbon emissions.

“We are committed to working together to ensure transparency, improve market efficiency and accelerate the transition to clean energy solutions.”

While expressing his sincere gratitude to USAID for their unwavering commitment to supporting Nigeria’s electrification efforts, the Minister emphasised that, by working with USAID and leveraging on their expertise, “we can empower the private sector, strengthen regulation and unlock the full potential of the power sector”.

Earlier in her remarks, the USAID/Nigeria Mission Director, Melissa Jones, said that the MoU would support the effective implementation of the N115.2 billion U.S. Government grant funded technical assistance programme, intended to support power sector development and reforms in Nigeria.

“Today’s goal is to strengthen collaboration between USAID and the Federal Government of Nigeria and to provide a framework for our partnership with other key actors, including state and local governments, electricity generation and distribution sectors and the off-grid sector is laudable and timely.”

Jones regretted that over 85 million Nigerians have no access to grid power, while many have suffered from unreliable power supply.

She noted that, given these challenges, many Nigerian families and businesses depend on expensive, emission-intensive gasoline and diesel backup generator.

“The Nigeria power sector’s long-standing challenges impair industrial growth and economic competitiveness, rural development, health and education sector performance and the nation’s overall economic growth and development.”

Also speaking, the Permanent Secretary, Mahmuda Mamman, pointed out that USAID has been a reliable partner to the Ministry of Power and has taken the sector to another milestone.

He revealed that the power sector has recorded a significant generation of 5000MW in 2024 and this collaboration may assist in surpassing the expected target of 6000MW by the end of this year.

Meanwhile, the U.S. Government’s Power Africa Coordinator, Richard Nelson, who was on hand to observe the signing ceremony, noted that Nigeria is at the core of Power Africa Coordination.

“I look forward to elevating our partnership to advance Nigeria’s progress towards our shared goal of ensuring access to reliable, sustainable affordable power for all,” Nelson said.

Leave a Reply

Latest news

- Advertisement -
- Advertisement -

You might also likeRELATED
Recommended to you

×