The Nigerian president, has reaffirmed Nigeria’s commitment to providing reliable, affordable, and sustainable electricity to its unelectrified population by 2030
Tinubu described this as an ambitious goal, that can be achieved together.
The President also lauded the African Development Bank (AfDB), the World Bank Group, and development partners for their collective pledge to bring electricity access to 300 million people in Africa by 2030.
He stated this in a speech read by the Minister of Power, Adebayo Adelabu, in Tanzania, where he participated in the Mission 300 Africa Energy Summit.
The Nigerian President called on African leaders to prioritise energy access, emphasising collective action.
He urged the leaders to work together to create a brighter future for its citizens—where every African can access reliable and affordable energy and a future where the continent’s industries will thrive, its economies grow, and its people prosper.
Nigeria’s Substantive Progress
Detailing the substantial progress Nigeria has achieved with the support of international development partners, President Tinubu acknowledged AfDB’s $1.1 billion, expected to provide electricity for 5 million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.
He said Nigeria looks forward to the AfDB’s planned $700 million investment in the Nigeria Desert to Power programme and its planned $500 million facility for the Nigeria-Grid Battery Energy Storage System which will provide electricity for an additional two million people.
According to him, “We have equally begun making plans to ensure theA effectiveness of the World Bank’s $750 million support for expanding Nigeria’s distributed energy access via mini-grids and standalone solar systems that will provide access to power to 16.2 million people,”
President Tinubu thanked Ajay Banga, President of World Bank Group, and Dr. Akinwunmi Adesina of AfDB for their transformative vision, which he said “will light up and power Africa.”
He also applauded the contributions of the UN Sustainable Energy For All, the Rockefeller Foundation, and the Global Energy Alliance for Development.
“As we all know, Africa is rich in energy resources, yet millions of our citizens still lack access to reliable and affordable energy. This situation is unacceptable. It is our responsibility to take collective action to change this narrative,”
Nugeria’s ongoing investment in Renewable Energy
President Tinubu highlighted ongoing investments in renewable energy, particularly solar power in Nigeria.
“For example, the federal government is in the final stages of developing an electric vehicle (EV) charging infrastructure programme emphasising renewable energy and establishing stricter vehicle emission standards. This will ease adoption barriers, galvanise partnerships, and provide affordable EV financing options. I am pleased to announce that the first 100 electric buses are already in the country.
He asserted that Nigeria’s energy sector was growing as a direct result of government’s reforms.
According to the president, the government continues incentivising those interested in investing in renewable energy, oil and gas energy efficiency.
He said that buoyed by Nigeria’s successful attraction of over $6 billion in new investments into its energy sector in 2024 alone, his administration is keen to build on this success in 2025 and beyond.
IFC’s Commitment
At the Summit, the International Finance Corporation (IFC) announced that it has committed $70 million in private sector funding to five Nigerian Renewable Electricity Service Companies (RESCOs) under the Nigeria Distributed Access Through Renewable Energy Scale-Up (DARES) programme.
The Rural Electrification Agency (REA) will implement the project.
Nigeria’s National Energy Compact, presented at the Summit on Monday, sets targets with implementation timelines and outlines the various planned reforms.
They include expanding power generation and investing in transmission and distribution infrastructure at competitive costs, working towards financially viable utilities that provide reliable service, and incentivising private sector participation to unlock additional resources.
Other Reforms
Other reform actions include embracing distributed renewable energy and clean cooking solutions for affordable last-mile access and leveraging the benefits of increased regional integration.
According to the document, Nigeria will require an investment of $23.2 billion for last-mile electrification, including contributions from the public and private sectors.
