The European Union (EU) has disclosed that its planned €37 million investment in Nigeria’s power sector will cover small hydropower, solar for health care facilities, and rural electrification with isolated and interconnected mini-grid projects.
Accompanied by the new Head of Cooperation of the EU, Mr. DE Luca Massimo and the Programme Manager on Energy, Mr. Godfrey Ogbemudia noted the EU’s various intervention programmes in the power sector.Responding, the Minister who received the ambassador in the company of his Chief Technical Advisor, Mr Adedayo Olowoniyi, called for more support in addressing the enormous challenges in the sector.He identified liquidity issues as the main problem bedevilling the sector, noting that the market will only be sustainable and run efficiently when there is a cost-reflective tariff in place.Related PostsImproved investment in agric sector will drive Nigeria’s economic growth —ExpertWe must encourage states to own power generating companies — Adelabu Sanwo-Olu reiterates commitment to create environment for local, foreign investments
He further noted that the EU programmes for the sector are in alignment with the ministry’s strategy for the sector while also assuring that it would work with the union on their programmes especially on small hydro and state electrification within the new act.
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