EU Commits over EUR150m to Boost Green, Renewable Energy in Nigeria
The European Union (EU) has allocated €150 million to boost electricity supply in Nigeria with a focus on green and renewable energy. The EU is a global leader in environmental protection and the fight against climate change, promoting sustainable development through international cooperation, innovation and clean energy, said its officials in a statement, recently.
Ensuring a healthy environment is at the heart of a universal sustainable development agenda both in its own right but also due to the clear interdependencies with other policy fields such as trade, security, conflict prevention and migration.
According to the statement, EU has committed more than €700 million grant funding for the 2014 – 2020 periods in the energy sector in West Africa.
“The #EU is enabling communities in Nigeria to harness solar power to generate renewable energy, and has set aside €165 million for intervention in the energy sector to improve access for over 90m Nigerians and business owners without access to energy,” the statement said.
Already, the EU has financed a 85KWP-Solar Hybrid Mini-Grid Project in Gbamu-Gbamu village in Ijebu-East Local Council of Ogun State.
It has also provided €14 million as technical assistance and investment grant for a credit line for Nigerian commercial banks for on lending to promoters of Renewable Energy/Energy Efficiency (RE/EE) small and medium scale projects through the French Development Agency (AFD)
The EU supports development financing institutions (DFIs) on large scale projects, including key portfolios like the Solar Nigeria Phase III, a €30 million programme with the UK Department for International Development (DFID) as implementing partner; Off-Grid Energy Access to Kaduna, Kano, Adamawa and Borno; the Nigeria Energy Support Programme II, a €20 million project implemented by the German Development Agency (GIZ). States are Sokoto, Plateau, Ogun, Cross River and Niger States.
The EU also supports the Vocational Training Delivery for the power sector with €8 million in Abuja, Kano, Kainji, Kaduna, Jos, Akangba, Ijora, Enugu, Afam, in concert with the AFD, with the National Power Training Institute of Nigeria (NAPTIN) as the implementing partner.
There is also the Sustainable Use of Natural Resources and Energy Financing (SUNREF) Nigeria, Phase III, a €14 million programme also being implemented by the AFD. It entails technical assistance and investment grant via a credit line for financing of RE/EE investments through two Nigerian commercial banks – UBA and Access.
“We have seen quite an amazing example in Lagos with people that collect bottle and plastics and recycle it; it is something that is done worldwide,” the Head of the EU Delegation to Nigeria and ECOWAS, Ambassador Ketil Karlsen, said at a recent event.
“The circular economy will be more prominent in the years to come and Lagos has the potential to spearhead this to a certain extent, we have the opportunity to invest in young entrepreneurs.
“We need to put spotlight on renewable energy which is very important, in Nigeria you already have a population of 200 million people of which 80 million do not have access to stable energy,” he said.