- President Buhari promises to electrify 5 million homes by 2030
- Says Nigeria is committed to Energy Transition Plan
President Muhammadu Buhari has stated that his administration is committed to improving electricity access by 2030. In a statement issued by his spokesperson, Femi Adesina, President Buhari stated that his administration would close the electricity deficit through various projects through Nigeria’s Energy Compact, which includes the electrification of 5 million households and 20 million people through renewable energy projects.
“Nigeria’s commitment to a just transition is reflected in our ambitious Energy Compact, which includes the Government’s flagship project to electrify five million households and twenty million people using decentralised solar energy solutions.” President Buhari said.
“Nigeria’s commitment is also reflected in the development of our Energy Transition Plan, which was developed with the support of the UK COP26 Energy Transition Council,” he added.
Nigeria requires at least $400 million in 30 years to achieve its net-zero target. According to the statement, Nigeria needs “..US$ 155 billion net spend on generation capacity, US$ 135 billion on transmission and distribution infrastructure, US$ 75 billion on buildings, US$ 21 billion on industry and US$ 12 billion on transport.”