The Rural Electrification Agency (REA) is gearing up to enhance the Nigeria Electrification Project (NEP) initiative as the African Development Bank (AfDB) prepares to disburse a previously sanctioned fund of $250 million for the project,leadership reports.
Adebayo Adelabu, the Minister of Power, disclosed this development and also affirmed the federal government’s commitment to supporting Northern Nigerian states through the $20 billion 10,000MW Northern Africa Desert to Power fund.
Adelabu shared these updates following a bilateral cooperation meeting with the AfDB cabinet, chaired by AfDB President Dr. Akinwumi Adesina, during the ‘Just Energy Transition and Agricultural Transformation for Africa’ conference in Busan, South Korea.
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He explained that the Northern Nigerian states will additionally benefit from AfDB’s $20 billion Desert-to-Power initiative, designed to generate 10,000 MW of solar power for eleven African countries.
During the Bilateral Cooperation meeting with the AfDB cabinet, the Nigerian delegation secured an In-Principal Agreement from AfDB for Technical Advisory Sponsorship. This agreement may encompass activities such as stress testing and capacity simulation of Nigeria’s Power infrastructure.
The primary objective of this Technical Advisory sponsorship is to establish operational capacity throughout the entire value chain, ultimately facilitating the prioritization of projects.
Adelabu emphasized, “In a productive Bilateral Cooperation meeting with the AfDB cabinet, presided over by AfDB President, Dr. Akinwunmi Adesina at the ongoing ‘Just Energy Transition and Agricultural Transformation for Africa’ conference in Busan, South Korea, the Nigerian delegation, led by myself, secured an In-Principle Agreement from AfDB for Technical Advisory Sponsorship, potentially encompassing stress testing and capacity simulation of Nigeria’s Power infrastructure. This initiative aims to establish operational capacity across the entire value chain, facilitating project prioritisation.
AfDB also confirmed readiness to disburse a previously approved $250m fund for the Nigeria Electrification Project (NEP) under the Rural Electrification Agency (REA) and extended support to Northern Nigerian states through the $20bn 10,000MW Northern Africa Desert to Power fund.”
