AfDB Powers Nigeria Electrification Project

On 14 September 2023, following a successful bilateral on the sidelines of the Korea-Africa Economic Cooperation Conference (KOAFEC) in Busan, Nigerian Minister for Power, Adebayo Adelabu, announced that the AfDB is willing to disburse USD 250 million to implement the Nigerian Electrification Project (NEP).

The Conference brought together the AfDB President Akinwumi Adesina and other key stakeholders to discuss the #EnergyTransition and #FoodSecurity in Africa.

“This initiative aims to establish operational capacity across the entire value chain, facilitating project prioritization. AfDB also confirmed readiness to disburse a previously approved $ 250 million fund for the Nigeria Electrification Project under the Rural Electrification Agency and extended support to Northern Nigerian states through the $ 20 billion 10,000MW Northern Africa Desert to Power fund.”

Nigeria Minister of Power Adebayo Adelabu

The NEP is administered by the Rural Electrification Agency (REA). Its goal is to provide new or improved electricity access to 100,000 households with over 600,000 people as well as 70,000 SME and 8 universities. By September 2022, the NEP has completed 65 mini-grids and 770,000 solar home systems across Nigeria which have positively impacted the lives of over 3.5 million Nigerians.

Based on the Energy Progress Report 2022 which monitors the UNSDG7, more than half of Nigerian population, or 95 out of 200 million people, still do not have access to electricity. The electrification drive will create an enabling environment for private sector involvement, with special attention to #WomenEmpowerment and #SME.