- The Federal Government of Nigeria and the World Bank have discussed reforms to improve electricity access and infrastructure development in the power sector.
- Finance Minister Wale Edun emphasised President Tinubu’s support for the Mission 300 project, aiming to provide electricity to 300 million people across Africa by 2030.
The Federal Government of Nigeria has engaged in discussions with the World Bank to advance power sector reforms to enhance electricity access and drive infrastructure development and economic growth across the nation. The talks, led by Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, involved a meeting with Guangzhou Chen, the World Bank’s Vice President for Infrastructure, marking a pivotal step in Nigeria’s energy sector transformation.
Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, released a statement on September 13 revealing that the meeting addressed ongoing challenges within the power sector. Mr Edun underscored President Bola Ahmed Tinubu’s support for the Mission 300 project.
This initiative, a collaborative effort between the World Bank and the African Development Bank, aims to provide electricity to 300 million people across Africa by 2030.
The discussions highlighted the need for reforms to enhance efficiency, broaden access, and ensure sustainable energy solutions to meet the needs of Nigeria’s expanding population. The meeting was attended by several key figures, including Ndiame Diop, World Bank Country Director for Nigeria; Franz Drees-Gross, Director of Infrastructure for West Africa; Taimur Samad, Operations Manager at the World Bank; and representatives from the Office of the Special Adviser on Energy to the President.
Manga emphasised that the collaborative approach between Nigeria and the World Bank is geared towards achieving the ambitious goals of the Mission 300 project. The reforms and efforts discussed are expected to unlock Nigeria’s potential, provide widespread electricity access, and foster economic growth and prosperity for future generations.