- ETO announced its meeting with AfDB to discuss a $1 billion power policy intervention.
- The two parties discussed a clean cooking initiative and the proposed rollout of an electric bus mass transit.
The Energy Transition Office (ETO) has announced a proposed partnership with the African Development Bank (AfDB) on an intervention programme to address issues in Nigeria’s electricity sector. ETO made this known today on its X (formerly Twitter) page. The office stated that it had met with the international AfDB mission to Nigeria led by AfDB’s Director of Power Systems Development, Henry Paul Batchi Baldeh, to discuss a $1 billion power policy intervention.
The intervention aims to foster policy to address the Nigerian Electricity Supply Industry (NESI) liquidity issues. It also aims to address metering and other infrastructure shortfalls, de-bottlenecking the tariff-related investment constraints and catalysing the integration of renewable energy into Nigeria’s energy mix.
The parties also discussed a clean cooking initiative and the proposed rollout of an electric bus mass transit. “We are excited about this partnership, and we are looking forward to greater collaboration with the bank,” ETO said. Recall that in September, the Minister of Power, Adebayo Adelabu disclosed on X that the Bank would fund the Nigerian Electrification Project (NEP) with $250 million.
Adelabu said, “This initiative aims to establish operational capacity across the entire value chain, facilitating project prioritisation. AfDB also confirmed readiness to disburse a previously approved $250 million fund for the Nigeria Electrification Project under the Rural Electrification Agency and extended support to Northern Nigerian states through the $20 billion 10,000MW Northern Africa Desert to Power fund.”