LIVE UPDATES
The United States Agency for International Development and the Federal Ministry of Power have officially signed a memorandum of understanding to ensure Nigeria's dedication to electricity sector reforms, market transparency, liquidity, and increasing access to affordable power.
The MOU, signed by USAID/Nigeria Mission Director Melissa Jones and the Permanent Secretary of the Federal Ministry of Power Mahmuda Mamman, aims to support the implementation of a US government grant-funded technical assistance program worth N115.2bn.
This program is intended to aid power sector development and reforms in Nigeria.
The signing of the MOU was announced in a statement issued in Abuja by the power ministry.
With over 85 million Nigerians lacking access to grid power and facing unreliable power supply, many families and businesses in Nigeria rely on costly petrol and diesel backup generators, which are also harmful to the environment due to emissions.
The persistent challenges in the Nigerian power sector have hindered industrial growth, economic competitiveness, rural development, health and education sector performance, as well as the overall economic growth and development of the nation.
Jones emphasized the US government's commitment to advancing electrification in Nigeria, highlighting the goal of strengthening collaboration between USAID and the Federal Government of Nigeria.
This collaboration aims to provide a framework for partnerships with other key stakeholders, including state and local governments, electricity generation and distribution sectors, and the off-grid sector.
The US government's Power Africa Coordinator, Richard Nelson, also attended the signing ceremony during his first official visit to Nigeria.
