From Isaac Anumihe, Abuja
The European Union (EU) is set to invest 37 million Euros into the power sector. This is apart from about 200 million grants invested in the sector since 2008.
EU Ambassador to Nigeria, Samuela Isopi, disclosed this during a visit to the Minister of Power, Chief Adebayo Adelabu, at the weekend.
The ambassador also spoke on the EU’s various intervention programmes in the power sector adding that the current support would cover small hydropower, solar for health care facilities, rural electrification with isolated and interconnected mini-grids project, circular economy in power sector project.
She said that the projects would commence this year.
Isopi also used the opportunity to invite the minister to an upcoming launch of two projects funded by the EU and implemented by United Nations International Development Organisation (UNIDO). Both projects will be launched on March 26
Earlier, the minister who received the ambassador in company of his Chief Technical Advisor, Mr. Adedayo Olowoniyi, expressed appreciation to the EU for the support they have been giving to the country and the ministry.
In a statement, he, however, sought for more support to address the enormous challenges in the sector.
He identified liquidity as the main problem that the government is trying its best to resolve the issue and said that the market will only be sustainable and run efficiently when there is a cost reflective tariff in place.
He was very excited with EU programmes for the sector and confirmed the alignment of these programme with the ministry’s strategy for the sector, while promising to work with the EU on their programmes especially on small hydro and state electrification within the new act.