By Grace Ademulegun
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for foreign investments to transform Nigeria’s electricity sector.
Speaking to a group of chosen investors and development partners at the African Energy Summit in Dar es Salaam, Tanzania, Edun described Nigeria’s energy sector as “ripe” and revolutionary opportunity.
“Investors are invited to be a part of this exciting journey as Nigeria’s electricity sector is poised for transformative growth,” Edun stated, highlighting the government’s dedication to macroeconomic stability, clean energy objectives, and universal energy access.
He said Nigeria has made significant progress in modernising its energy sector, especially through collaborations with the private sector, noting that through such measures, the nation’s electricity deficit has decreased and neglected regions have been connected through the installation of over a million solar panels and 150 mini-grids.
In order to meet demand, Edun clarified, “we are focused on ensuring profitability in energy provision.” He described the government’s emphasis on modernising the system, increasing dependability, and releasing the power sector’s potential to stimulate economic expansion.
Edun addressed how the “Mission 300” project, which aims to hasten Nigeria’s transition to clean energy, aligns the government with international sustainable energy targets, which encourages investment in renewable energy sources while giving energy security a priority.
Edun gave investors the reassurance that Nigeria’s economic reforms had produced a strong investment environment that could foster revolutionary expansion.
