EU Commences €9 Million Energy Initiatives in Nigeria

EU Ambassador to Nigeria, Samuela Isopi
EU Ambassador to Nigeria, Samuela Isopi google

The European Union has introduced two new projects worth €9m in Nigeria’s energy sector, as part of its commitment to supporting the Federal Government in providing clean, affordable, and sustainable energy for all.

The EU made this disclosure in Abuja on Tuesday at the project inception workshop organized in partnership with the Federal Government and United Nations Industrial Development Organization.

Nigeria, with a population of over 200 million, reportedly had an electricity consumption per capita of 147 kilowatt-hours in 2022, whereas South Africa, with a population of over 60 million, boasted an electricity consumption per capita of 3,566 kilowatt-hours during the same period, as per the World Bank.

The Central Bank of Nigeria reported that the country's average per hour data was 3,689.700 MWh in September 2023, highlighting ongoing challenges with low power generation and inadequate distribution infrastructure.

It is against this backdrop that the partnership has been developed to address the poor energy situation in the country.

The project involves Small Hydro Power Development for Agro-industry Use in Nigeria and aims to advance Nigeria’s Green and Just Transition to Net Zero through Circular Economy Practices, enhancing energy accessibility and promoting circular economy practices to tackle pollution and climate change.

While the SHP-DAIN and Advancing Nigeria’s Green Transition to Net Zero through Circular Economy Practices are both three-year projects, the former has a budget of €5 million and the latter has a budget of €4 million. The United Nations Industrial Development Organization will implement both projects,” EU noted.

The EU Global Gateway Strategy includes both projects as part of a transformative initiative to enhance connectivity, foster economic growth, and promote sustainability through collaboration.

These projects are driving Nigeria towards its earnest aspiration of transitioning to a more sustainable and environmentally responsible future, with a focus on decarbonizing its economy and aiming for a transition to net zero emissions by 2060.

At the official launch of the projects in Abuja, Ms Samuela Isopi, the EU Ambassador to Nigeria and ECOWAS, elaborated on how the SHP-DAIN project will enhance the capacity of small hydropower in Nigeria's energy mix to drive productivity in agricultural value chains and other businesses, improve livelihoods, and promote food security and decent work.

Related Stories

No stories found.
logo
Latest Lagos Local News - Lagoslocalnews.com
www.lagoslocalnews.com