The European Union (EU) has announced a €37 million investment plan in solar and hydro power systems aimed at bolstering healthcare centers and rural areas across the nation.
Ambassador Samuela Isopi, the EU Head of Mission to Nigeria, shared this initiative during a meeting with Minister of Power, Mr. Adebayo Adelabu, in Abuja on Friday. Accompanying Isopi were Mr. Luca Massimo, the new Head of Cooperation of the EU, and Mr. Godfrey Ogbemudia, Programme Manager on Energy.
Isopi clarified that this financial injection is separate from the approximately €200 million in grants previously allocated to the sector since 2008. She outlined that the EU’s intervention programs will prioritize small hydro-power and solar energy for healthcare facilities, along with rural electrification through isolated and interconnected mini-grids projects, and initiatives promoting circular economy principles.
Isopi emphasized that these projects are set to commence soon and extended an invitation to the minister for the upcoming inauguration of two projects financed by the EU and executed by the United Nations Industrial Development Organization (UNIDO).
In response, Minister Adelabu, accompanied by his Chief Technical Advisor, Mr. Adedayo Olowoniyi, expressed gratitude to the EU for its ongoing support to the sector. Adelabu stressed the need for further assistance to address significant challenges within the sector, highlighting liquidity issues as a top priority for the government.
He noted that efforts are underway to resolve this challenge and emphasized the importance of implementing a tariff structure that reflects the true cost of services for achieving a sustainable and efficiently operated market.
