The European Union is set to invest 37million euros into the power sector. This is apart from about 200 million grants invested in the sector since 2008.
This disclosure was made by the EU ambassador to Nigeria, Samuela Isopi during a visit to the Minister of Power, Chief Adebayo Adelabu on Thursday. She was accompanied by the new Head of Cooperation of the EU, Mr. DE Luca Massimo and the Programme Manager on Energy, Mr. Godfrey Ogbemudia.
During the visit, the ambassador spoke on the EU’s various intervention programmes in the power sector adding that the current support would cover small hydro power, solar for health care facilities, rural electrification with isolated and interconnected mini-grids project, circular economy in power sector project. She ssid the projects will commence this year.
Ambassador Isopi also used the opportunity to invite the Minister to an upcoming launch of two projects funded by the European Union and implemented by UNIDO which will both be launched on March 26.
Responding, the Minister who received the ambassador in company of his Chief Technical Advisor, Mr. Adedayo Olowoniyi, expressed appreciation to the EU for the support they have been giving to them, more support is needed to address the enormous challenges in the sector. He identified liquidity issue as the main problem that the government is trying its best to resolve and said that the market will only be sustainable and run efficiently when there is a cost reflective tariff in place. He was very excited with EU programmes for the sector and confirmed the alignment of these programme with the Ministry’s strategy for the sector while promising to work with the EU on their programmes especially on Small hydro and state electrification within the new act.
