The Minister of State, Power, Goddy Jedy-Agba has described sustainable electricity as the bedrock of sustainable socio-economic national development, saying no nation’s economy would make meaningful headway without the support of an efficient power sector.
The minister made the remarks when he received in audience the Acting Vice President, Power, Energy, Climate and Green Growth Complex of the African Development Bank (AfDB), Wale Shonibare who led a delegation of the bank on a courtesy visit to the Ministry.
Agba, in a statement, said it was for these reasons that the President Muhammadu Buhari-led administration had taken some bold initiatives and interventions at improving power supply in the country, and would welcome with open arms, supports from development partners.
According to him, the federal government is willing to do more in partnering with the bank to enhance further growth in the sector and provide electricity to Nigerians
This is even as he commended the AfDB for its contributions so far in the sector and assured the team that any money given to the sector would be judiciously utilized and accounted for.
“AfDB had been investing in the sector and they planned to invest more by increasing their funding in the development of power in the country,” the minister said.
Shonibare while briefing the Minister said the continent’s development finance institution remained “very active in the Nigerian power sector and we are ready to do more. The Board has approved $200 million to the sector through the Rural Electrification Agency (REA), to roll out Mini- Grids. We are also involved in Energizing Education, a programme under which we are dedicating power systems to eight Federal Universities”.
Shonibare, who is also the Director, Energy and Installation in the bank, explained that the bank was also involved in the transmission sector of the country as it had a $410m to support the Nigerian Transmission Expansion Project (NTEP) to provide 330KV transmission lines.
He also said $200m has already been approved by AfDB Board for phase one of the project, which seeks to rehabilitate and upgrade the nation’s power lines and improve distribution and supply as well as the provision of sub-stations.
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