Nigeria's president Bola Tinubu has sought to offset the impact of his economic reforms
IBTimes NG

President Bola Tinubu reaffirmed Nigeria's goal of providing universal electricity access by 2030, stressing that energy is key to driving economic growth and social progress. This initiative aims to bring electricity to 300 million people in Africa over the next five years.

At the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, Tinubu's speech - delivered by Minister of Power Adebayo Adelabu - showed Nigeria's support for the Dar es Salaam Declaration.

"This is an ambitious goal, but we can achieve it together. As Nigeria's President, I am committed to making energy access a top priority," Tinubu said, as per the official statement shared on the State House website.

He added, "Let us work together to create a brighter future where every African can access reliable and affordable energy—a future where our industries thrive, our economies grow, and our people prosper."

Tinubu highlighted Nigeria's progress with the help of international development partners. He mentioned AfDB's $1.1 billion investment, which will provide electricity to five million people by the end of 2026, and its $200 million Nigeria Electrification Project, which will benefit 500,000 people by 2025.

He also mentioned the AfDB's planned $700 million investment in the Nigeria Desert to Power program and its $500 million investment in the Nigeria-Grid Battery Energy Storage System, which will supply electricity to an additional two million people.

He shared plans for the World Bank's $750 million investment to expand Nigeria's energy access through mini-grids and standalone solar systems, which will help 16.2 million people gain access to power.

Tinubu thanked President of the World Bank Ajay Banga and Dr. Akinwunmi Adesina of AfDB for their vision, which he believes will bring electricity and power to Africa.

The Nigerian president emphasized that Africa is rich in energy resources, but millions of people still lack access to reliable and affordable energy. He called this situation unacceptable and stated that it is their responsibility to work together to change it.

He talked about Nigeria's ongoing investments in renewable energy, especially solar power. He mentioned that the government is close to finalizing a program for electric vehicle (EV) charging infrastructure that focuses on renewable energy and stricter vehicle emission standards.

This program will help overcome challenges in adopting EVs, encourage partnerships, and offer affordable financing for electric vehicles. Tinubu also shared that the first 100 electric buses have already arrived in Nigeria.

Originally published on ibtimes.ng