Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced the country’s electricity sector is open for investment. Speaking at the #Mission300 African Energy Summit in Dar es Salaam, Tanzania, Edun emphasised Nigeria’s focus on clean energy, macroeconomic stability, and universal energy access.
Addressing investors and development partners on Sunday, Edun described the sector as ripe for growth and innovation. His remarks were shared on the Ministry of Finance’s official X (formerly Twitter) account on Monday.
According to a report from the International Energy Agency (IEA), sub-Saharan Africa is home to 80% of the global population without electricity. Despite progress in grid connections and solar-home systems, over 600 million people in the region still lack electricity, surpassing the 2019 figure.
About Mission 300
The World Bank Group, in partnership with the African Development Bank, has launched Mission 300, an ambitious initiative to connect 300 million people in sub-Saharan Africa to electricity by 2030. The programme aims to accelerate electrification through investments in generation, transmission, distribution, and reforms to ensure affordability and reliability.
The success of Mission 300 hinges on partnerships. Governments must implement sector reforms, private companies need to expand distributed and grid-connected energy solutions, and development banks are tasked with mobilising public and concessional financing.
Edun’s invitation aligns with Mission 300’s goals, positioning Nigeria as a hub for energy investment in Africa.
Credit: Businessday (Text Excluding Headline)
