Minister for Power, Mr Adebayo Adelabu, has declared the Federal Government's commitment to achieving universal energy access by 2060, with a short-term target of attaining 30GW of grid energy supply first by 2030.
This was contained in a statement posted on the Ministry’s media platforms on Thursday, September 5, 2024.
According to the statement, the Minister, while speaking at the China-Nigeria Economic Cooperation and Trade Conference in Beijing, China, said Nigeria is working progressively towards achieving a universal access by the year 2060 with a long-term goal of universal energy access in view.
The minister said: “In Nigeria, we are committed to achieving universal energy access by 2060, with a short-term target under our Vision 30:30:30 to attain 30GW of grid energy supply with a 30 per cent renewable energy mix by 2030, and a long-term goal of universal energy access.”
Adelabu also emphasized that the targets they have set on ground will present an opportunity for further partnership between the Chinese investment community and the Federal Republic of Nigeria to facilitate and increase the penetration of cleaner and more sustainable energy solutions.
The minister also said that meter payments are to be spread over 10 years, while putting up a multi- pronged approach designed to tackle issues concerning electricity supply across the nation.
The statement reads in part: "To achieve this objective, the Federal Government of Nigeria has implemented a multi-pronged approach designed to tackle issues across the Nigeria electricity supply industry value chain and set the sector on a path to recovery and prosperity”.
The minister while speaking further, listed out the measures that has been put in place by the federal government in order to achieve these targets, which involves the embracing of technology and innovation, fostering strategic partnerships, streamlining legislative and policy processes, and leveraging on public and private funds.
The Minister also stressed that the China-Nigeria agreement will present a greater opportunity that will further strengthen the existing collaborations that exist between the two nations.
He further said, “I believe this Nigeria-China Economic Forum presents a great opportunity for us to firm up our existing areas of collaboration and explore additional opportunities for shared prosperity.”
Read More
