The United States Agency for International Development and the Nigerian Federal Ministry of Power signed a memorandum of understanding to unlock N115 billion investment in the country to tackle electricity challenges.
In a statement on Wednesday by the Power Ministry, the MOU was signed by USAID’s Nigeria Mission Director, Melissa Jones, and the Permanent Secretary, Federal Ministry of Power, Mahmuda Mamman.
Accordingly, the investment is part of a US government grant-funded technical assistance program 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 partnerships with other key actors, including state and local governments, the electricity generation and distribution sectors and the off-grid sector. It is laudable and timely,” Jones stated.
Speaking on the investment in Nigeria, the Minister of Power, Adebayo Adelabu, expressed gratitude for USAID’s continued support toward ending Nigeria’s power sector challenges.
“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.
“The ministry is committed to ensuring these interventions deliver tangible benefits to all Nigerians, promoting economic growth and sustainable development,” it stated.
The development comes as Nigeria’s power sector challenges across distribution, generation and transmission sectors have continued to fetter.
This is because more than 85 million Nigerians have no access to grid power, and many have suffered from unreliable power supply decades after privatization in 2013.
USAID plans N115bn investment to tackle Nigeria’s electricity challenges
