- Nigeria’s Minister of Power, Chief Adebayo Adelabu, announced the country’s goal to achieve universal energy access by 2060, with an interim target of 30GW of grid energy by 2030.
- At the China-Nigeria Economic Cooperation and Trade Conference, Adelabu highlighted opportunities for increased collaboration with Chinese investors to enhance Nigeria’s energy sector.
According to Chief Adebayo Adelabu, Nigeria’s Minister of Power, Nigeria is working towards achieving universal energy access by 2060, with an interim goal of reaching 30GW of grid energy supply by 2030. He shared these plans at the 1st China-Nigeria Economic Cooperation and Trade Conference held in Beijing as part of President Bola Tinubu’s delegation to the Africa-China Cooperation Summit.
Minister Adelabu highlighted Nigeria’s commitment to enhancing its power sector and invited Chinese investors to collaborate. He emphasised that the country’s targets represent significant opportunities for joint efforts between Nigeria and China, focusing on cleaner and more sustainable energy solutions to meet growing economic demands and ensure energy security.
“Nigeria is determined to achieve universal energy access by 2060, with a short-term goal of reaching 30GW of grid energy by 2030 under our Vision 30:30:30 initiative. This vision includes a 30 per cent renewable energy mix by 2030,” Adelabu said. He further explained that these targets present a prime opportunity for increased cooperation with Chinese investors to boost sustainable energy solutions in Nigeria.
The Minister outlined a multi-faceted strategy to achieve these goals, including streamlined legislative and policy processes to reduce bureaucratic obstacles, encouraging investment and project execution. Additionally, Nigeria is leveraging both public and private funding to mitigate investment risks and attract substantial financial commitments, facilitating larger and more rapid project rollouts.
Adelabu also emphasised the importance of technology and innovation in helping investors identify optimal opportunities. The Nigerian government has initiated a national program to expedite infrastructure development to create a robust and resilient grid network.
Strategic partnerships with global investment communities and development partners are being fostered to harness global expertise, share resources, and co-invest in the energy sector.
The Minister expressed optimism about the potential of the Nigeria-China Economic Forum to solidify existing collaborations and explore new opportunities for mutual benefit.
He stressed that the partnership between Nigeria and China has a long history of achievements in the power sector and is crucial for Nigeria’s energy sustainability and economic development.
Adelabu’s remarks underscore Nigeria’s proactive approach to transforming its energy sector and the significant role of international partnerships in realising these ambitious goals.