The Nigerian Government has engaged stakeholders to raise $50 million for state solar plant pilots and the upgrade of electricity infrastructure in the country.
The Federal Ministry of Finance said in a statement in Abuja on Monday that the engagement was part of a broader effort to enhance power distribution and support market reforms aimed at fostering economic growth and development.
The statement said that the plan included the rollout of 3.5 million electricity meters to improve power distribution across the country and that the government is implementing measures to support tariff frameworks and market reforms.
According to the statement, the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, chaired the meeting on Monday in Abuja with the World Bank delegation led by Dr. Ndiamé Diop, the Bank’s Country Director for Nigeria, as well as Ms. Olu Verheijen, the Special Adviser to the Nigerian President on Energy.
It added that the meeting underscored the Nigerian Government’s commitment to boost power sector investments as a major priority for achieving the desired objectives.
GIK/APA
Nigeria to raise $50m for electricity infrastructure upgrade, solar plants
