By Abbas Nazil
The Federal Government has earmarked N450 billion to support renewable energy development and combat poverty in Nigeria, the Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Yilwatda, has announced.
Speaking at the national budget roundtable and panel discussion held at Covenant University, Ota, Ogun State, the minister explained that the government’s strategy integrates energy access with poverty alleviation efforts, targeting millions of Nigerians currently living without electricity.
Yilwatda noted that the allocation reflects the administration’s commitment to addressing multidimensional poverty through sustainable and inclusive energy policies.
He disclosed that out of the N450 billion, N200 billion has been specifically assigned to renewable energy infrastructure.
An additional N150 billion is to fund the development and implementation of solar, wind, hydro, and coal-based energy systems, aiming to connect five million households to electricity by the end of 2025.
“The lack of access to energy in Nigeria not only limits business growth but also hampers education, healthcare, and widens inequality,” Yilwatda stated.
He cited data from the 2022 National Multidimensional Poverty Index (MPI), which revealed that 63 percent of the population, about 133 million Nigerians, live in multidimensional poverty.
Of this, he said, 42 percent are in extreme poverty, while 40 percent lack access to electricity.
He emphasized that approximately 85 million Nigerians live without electricity, underscoring the strong correlation between energy deprivation and extreme poverty.
To ensure sustainability and build a workforce to support the green economy, N100 billion of the budget has been dedicated to training 250,000 Nigerians in renewable energy technologies.
These trainings are to cover various sectors including solar, wind, hydro, and thermal energy, with the goal of creating smart, green jobs and fostering economic inclusion, especially in underserved communities.
“This energy transition is not only about electrification. It’s about job creation, educational growth, and economic participation,” Yilwatda said.
He added that the initiative would play a vital role in Nigeria’s broader strategy for poverty reduction and economic transformation.
In addition to the energy-focused programs, the minister also highlighted ongoing social intervention schemes such as the conditional cash transfer initiative, which is currently supporting over five million Nigerians.
The program targets 15 million households, with beneficiaries selected through the national social register and verified via digital ID systems.
Yilwatda also announced the government’s plan to generate two million new jobs by providing training and skill development to unemployed and underemployed Nigerians and connecting them to private sector employment opportunities.
The roundtable event was organized by the Centre for Economic Policy and Development Research (CEPDeR) of Covenant University in collaboration with the University of Warwick.
It focused on the role of national budgeting in addressing poverty and inequality amidst global energy transitions.