Nigeria Secures $3.25bn in Foreign Investment to Boost Electricity Access
Nigeria has secured over $3.25 billion in foreign investment to expand electricity access to 23.7 million people, as part of its drive to bridge the country’s energy gap and electrify remote communities.
Speaking at the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, President Bola Tinubu reiterated his administration’s commitment to ensuring energy equity, particularly for the nation’s most underserved regions. His remarks were delivered by the Minister of Power, Adebayo Adelabu.
The investment package includes substantial contributions from the African Development Bank (AfDB) and the World Bank. AfDB has pledged $1.1 billion to power five million Nigerians by the end of 2026, along with $200 million for the Nigeria Electrification Project, expected to benefit 500,000 people by the end of 2025. Additional commitments include a planned $700 million investment in Nigeria’s Desert to Power programme and a $500 million facility for the Nigeria-Grid Battery Energy Storage System, which aims to bring electricity to another two million people.
The World Bank’s $750 million support package will further expand Nigeria’s energy distribution via mini-grids and standalone solar systems, targeting 16.2 million people.
President Tinubu expressed gratitude to the AfDB, the World Bank Group, and other development partners for their commitment to increasing electricity access across the continent, aligning with the goal of bringing power to 300 million Africans by 2030.
“Let us work together to create a brighter future for our citizens—where every African can access reliable and affordable energy. A future where our industries thrive, our economies grow, and our people prosper,” he urged fellow African leaders.
Reaffirming Nigeria’s dedication to universal energy access, Tinubu underscored his administration’s goal of providing reliable, affordable, and sustainable electricity to all Nigerians by the end of the decade. With significant international backing, Nigeria is positioning itself at the forefront of Africa’s energy transition, seeking to drive economic growth through expanded electrification.
