The European Union (EU) has disclosed that its planned €37 million investment in Nigeria’s power sector will cover small hydropower, solar for healthcare facilities, rural electrification with isolated and interconnected mini-grids project.
The ambassador to Nigeria, Samuela Isopi, made the disclosure when she paid a visit to the Minister of Power, Chief Adebayo Adelabu, in Abuja.
Accompanied by the new Head of Cooperation of the EU, Mr. DE Luca Massimo and the Programme Manager on Energy, Mr. Godfrey Ogbemudia noted the EU’s various intervention programmes in the power sector.
Responding, the Minister who received the ambassador in company of his Chief Technical Advisor, Mr. Adedayo Olowoniyi, called for more support in addressing the enormous challenges in the sector.
He identified liquidity issues as the main problem bedeviling the sector, noting that the market will only be sustainable and run efficiently when there is a cost reflective tariff in place.
He further noted that the EU programmes for the sector are in alignment with the Ministry’s strategy for the sector while also assuring that it would work with the union on their programmes especially on Small hydro and state electrification within the new act.
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