The Federal Government of Nigeria has secured the backing of the United States for its solar power project, as part of ongoing efforts to provide reliable and quality electricity to businesses and households across the country.
This was revealed in a statement by the Special Adviser, Strategic Communication and Media Relations, Bolaji Tunji on Friday.
This support was confirmed by the United States Ambassador to Nigeria, Richard Mills, during a meeting with the Minister of Power, Adebayo Adelabu, in Abuja on Wednesday.
The project, which involves Sun Africa LLC, an American company at the forefront of efforts to meet Africa’s energy needs, aims to deliver critical power infrastructure to Nigeria.
During the meeting, Mills emphasised the United States’ commitment to the project, stating, “You have the support of the US government on the project.”
The Ambassador also invited the Minister to an upcoming Energy Summit scheduled to take place from September 11-12, 2024, in Washington.
He noted that the summit would focus significantly on the electricity sector, with working groups engaged in strategic energy dialogue.
In his remarks, Adelabu reiterated the Ministry of Power’s commitment to enhancing local industries by providing them with sufficient power to improve their operations.
He lamented that, despite Nigeria’s large population and market potential, the country continues to import about 80 per cent of what it consumes. This import dependency, he said, places a significant burden on the nation due to its limited foreign exchange resources.
“The reverse has been the case simply because Nigeria still imports about 80 percent of what it consumes, and this has left the country with a lot of burden since the country has limited sources of foreign exchange to fund the import dependence,” Adelabu stated.
The Minister outlined the Ministry’s strategic priorities, which include legislative support to decentralize the power sector, the design of a National Integrated Electricity Policy and Strategic Implementation Plan, and the introduction of appropriate tariffs to migrate the market and upgrade infrastructure.
Additionally, he highlighted the importance of infrastructure provision through partnerships with foreign investors and the implementation of an energy transition plan aimed at achieving net zero emissions.
