Home Business FG, EU, German Govt Sign £17.9m Power Development Agreement
Business

FG, EU, German Govt Sign £17.9m Power Development Agreement

Share
FG, EU, German Govt Sign £17.9m Power Development Agreement | Daily Report Nigeria
Share

The Federal Government has signed an agreement with the European Union and the German Government to provide support worth £17.9m to fund Nigeria’s off-grid electricity project.

The project, launched under the third phase of the Nigerian Energy Support Programme, aims to foster investments in renewable energy, energy efficiency, and rural electrification.

According to the EU, the programme will enable 154,000 people to access electricity and connect 30,000 others to clean cooking gas, while eight megawatts of electricity will be generated in the third phase.

Inga Stefanowicz, Head of Section Green and Digital Economy at the European Union Delegation to Nigeria and ECOWAS, said, “Achieving a cleaner future is the business of all stakeholders.

The EU has partnered with Nigeria to launch this goal for many years to achieve sustainable energy, energy security, energy efficiency, access, and clean energy.”

The Permanent Secretary of the Ministry of Power, Mahmuda Mamman, said the project will help close the gap of 100 million Nigerians not having access to electricity.

“Renewable energy is significant in addressing the challenges of providing electricity for the unserved rural communities in Nigeria,” he said.

READ ALSO: Rolls-Royce Designer: Ian Cameron Stabbed to Death in German Mansion

The NESP was commissioned in 2013 as a technical assistance programme co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development and implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit in collaboration with the Federal Ministry of Power.

The programme’s third phase was commissioned by the German Federal Ministry for Economic Cooperation and Development with €8.9m Euros in May this year, and the EU has recently commissioned an additional €9m, increasing the total budget to €17.9m.

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Naira Continues Depreciation Against Dollar, Records Highest Weekly Decline | Daily Report Nigeria
Business

Naira Continues Depreciation Against Dollar, Records Highest Weekly Decline

The Nigerian naira continued to depreciate against the US dollar at the...

NNPCL to Hand Over Nigerian Refineries to Private Firms
Business

NNPC Signs Gas Supply Agreement with Ssonic Petroleum for LNG Plant

NNPC has signed a Gas Sale and Purchase Agreement (GSPA) with Ssonic...

FG Targets 10,000MW Power Transmission Capacity by 2026 | Daily Report Nigeria
Business

FG Targets 10,000MW Power Transmission Capacity by 2026

The Federal Government plans to increase its power transmission capacity from 8,500...

Tinubu: Nigerian Stock Exchange Records Highest Gain in 15 Years
Business

Foreign Investors Withdraw N455.62bn from Nigerian Stock Market in 2024

Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, exceeding...