The Federal Government has received crucial support from the United States for its solar power initiative, aimed at delivering reliable electricity to businesses and households throughout the country.
This development was announced by the Special Adviser on Strategic Communication and Media Relations, Bolaji Tunji, on Friday.
The backing was confirmed by Richard Mills, the United States Ambassador to Nigeria, during his meeting with the Minister of Power, Adebayo Adelabu, in Abuja on Wednesday.
Mills assured that “You have the support of the US government on the project.”
The project involves Sun Africa LLC, a leading American firm dedicated to addressing Africa’s energy needs. Mills also extended an invitation to Minister Adelabu to attend the upcoming Energy Summit in Washington, scheduled for September 11-12, 2024.
The summit will focus on the electricity sector, featuring working groups engaged in strategic energy discussions.
Adelabu reaffirmed the Ministry of Power’s commitment to bolstering local industries by ensuring they have adequate power to enhance their operations.
He expressed concern that Nigeria, despite its large market potential, remains heavily reliant on imports, covering about 80 percent of its consumption.
This dependency, according to Adelabu, imposes a significant strain on the nation’s limited foreign exchange resources.
“The reverse has been the case simply because Nigeria still imports about 80 percent of what it consumes, and this has left the country with a lot of burden since the country has limited sources of foreign exchange to fund the import dependence,” Adelabu remarked.
The Minister outlined key priorities for the Ministry, including legislative support for decentralizing the power sector, creating a National Integrated Electricity Policy and Strategic Implementation Plan, and introducing suitable tariffs to advance the market and upgrade infrastructure.
He also emphasized the importance of foreign investment partnerships for infrastructure development and implementing an energy transition plan to achieve net zero emissions.
Adelabu assured the US team that substantial progress is being made to secure the necessary approvals for the Sun Africa Power Project, paving the way for its operational commencement.
