- The European Union of the German Federal Ministry for Economic, Corporation and Development co-funds the energy support programme.
- NESP invested 48 million euros in the second phase of the programme.
The Nigerian Energy Support Programme (NESP) has said Nigeria would invest about 19 million euros in the third phase of its Energy Support Programme. The Component Lead of Enabling Environment (NESP), Mr Joshua Yari Garba, disclosed this on the sideline of a one-day Energy Summit organised by the Energy Commission of Nigeria (ECN).
The European Union of the German Federal Ministry for Economic, Corporation and Development co-funds the programme. During the event organised in collaboration with Abloom Trust Nigeria Ltd in Abuja on Wednesday, themed: “Prospects of Energy Transition Plan’’, Garba said they invested 48 million Euros in the programme’s second phase.
He further revealed that the World Bank, in partnership with the Nigerian Electrification Programme, would inject 750 million dollars into the federal government to integrate renewable energy and energy efficiency in rural areas.
According to Garba, the energy transition plan had five focal areas, one of which was to create an enabling environment to support and foster investments within Nigeria. “This means that one key aspect of improving investments is partnerships between governments, the private sector and the international development community.
“This administration has been clamouring for partnerships, especially the inclusion of the private sector in terms of investment. We hope to see the private sector come in to play a key role in implementing the focal areas of the Energy Transition Plan,’’ he added.