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Nigeria, US sign ₦115bn MoU to improve power sector

With over 33 million Nigerians now have access to electricity, approximately $4.5 billion has been secured for both on-grid and off-grid power projects in Nigeria, and more than 200 private companies in the off-grid sector have received support.

Minister of Power, Adebayo Adelabu. [Facebook]

The power ministry announced this on Wednesday, July 10, in Abuja.

USAID/Nigeria Mission Director, Melissa Jones, the USAID/Nigeria Mission Director, and Mahmuda Mamman, the Permanent Secretary of the Federal Ministry of Power, signed the MoU.

The agreement aims to implement a ₦115.2 billion US government grant-funded technical assistance program to support Nigeria's power sector development and reforms.

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Commenting on the agreement, Jones underscored the unwavering commitment of the US government to advancing electrification efforts in Nigeria.

"Today's goal is to strengthen collaboration between USAID and the Federal Government of Nigeria and to provide a framework for our partnerships with other key actors, including state and Local Governments, electricity generation and distribution sectors and the off-grid sector. It is laudable and timely," she stated, according to Channels TV.

The Power Minister, Adebayo Adelabu, thanked USAID for their ongoing support and highlighted the significant impact of their collaboration.

"This partnership with USAID is a significant milestone in the journey towards achieving a sustainable and reliable electricity supply for all Nigerians. Together, we will tackle the longstanding challenges in the power sector, ensuring transparency, enhancing market liquidity, and accelerating our transition to clean energy solutions," he stated.

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The announcement highlighted that USAID addresses these challenges via the Power Africa Initiative, a US government-led collaboration that leverages both public and private sector resources to increase electricity access in sub-Saharan Africa significantly.

The statement further noted that through this initiative, over 33 million Nigerians now have access to electricity, approximately $4.5 billion has been secured for both on-grid and off-grid power projects in Nigeria, and more than 200 private companies in the off-grid sector have received support.

"This initiative will strengthen policy frameworks, enhance regulatory capacities, and encourage private sector participation, ultimately driving the nation towards its clean energy and net zero carbon emissions targets.

"The ministry is committed to ensuring these interventions deliver tangible benefits to all Nigerians, promoting economic growth and sustainable development," it stated.

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On his part, the US government's Power Africa Coordinator, Richard Nelson, said, "Nigeria is at the core of Power Africa's strategy. 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."

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