- Adebayo Adelabu urged global leaders at the SEforALL Forum to bridge the gap between energy transition and developmental finance, calling for justice, inclusion, and concessional funding.
- Nigeria reaffirmed its commitment to sustainable energy by launching the $500 million DRE Nigeria Fund to boost renewable energy investments.
Chief Adebayo Adelabu, Minister of Power, urged global leaders to close the gap between energy transition and developmental finance. He emphasised the need for justice and inclusion in international efforts.
He represented Nigeria at the 2025 Sustainable Energy for All (SEforALL) Global Forum in Barbados from March 12 to 13, 2025. SEforALL and the Government of Barbados co-hosted the Forum under the theme “Sustainable Energy for Equity, Security and Prosperity.” The event gathered global leaders to drive action and investment in energy access, climate goals, and sustainable development.
Bolaji Tunji, Special Adviser for Strategic Communication and Media Relations, said Adelabu spoke at the Global Ministerial Roundtable. The Minister called for a balance between energy access, industrialisation, and economic growth.
He said Africa contributes less than four per cent to global emissions but suffers significantly from climate change and energy poverty. He urged developed nations to support a fair energy transition for Africa.
“Africa must not choose between development and decarbonisation. Nigeria has abundant natural gas, which should serve as a transition fuel to a cleaner future,” he said.
Adelabu stressed the need for universal energy access. He noted that over 600 million Africans lack electricity and rely on harmful alternatives like generators and deforestation.
“Energy transition must focus on people. Rural communities and marginalised groups must not be left behind. We need financing for grid expansion and renewable solutions,” he said.
He also called for green jobs and reskilling workers to ensure a fair transition. He criticised current financing structures for their high costs and slow disbursement.
“We need concessional financing, risk guarantees, and innovative funding to attract private sector investment. Developed countries must meet their climate finance commitments,” he said. He urged financial institutions to consider Africa’s unique challenges in global funding mechanisms.
Adelabu highlighted Nigeria’s leadership in energy access through the Mission 300 program. This initiative, supported by the World Bank, African Development Bank, and 13 African countries, aims to expand energy access through grid and renewable solutions.
He also pointed out Nigeria’s Energy Transition Plan, which seeks to achieve net-zero emissions while ensuring economic growth.
Nigeria reaffirmed its commitment to sustainable energy at the Global Forum by launching the USD500 million DRE Nigeria Fund. The Nigeria Sovereign Investment Authority, SEforALL, the International Solar Alliance, and Africa50 Group developed the fund to invest in renewable energy projects.