The African Development Bank has approved a three-point-nine-million-dollar project running for two years to support Nigeria and twelve other African countries in rolling out energy compacts under Mission300, aimed at expanding electricity access by the year two thousand and thirty.
The bank’s Board of Directors approved the project, and the decision was announced.
The project will support participating countries in turning their energy strategies into actual electricity connections for homes, businesses, and public facilities.
This effort comes at a time when African governments are stepping up actions to address the continent’s electricity access gap, which continues to limit economic progress and social development.
According to the AfDB, the project focuses on moving countries beyond policy promises to the real delivery of electricity services.
Wale Shonibare, the AfDB’s Director of Energy Financial Solutions, Policy and Regulation, said countries had made strong commitments through their Energy Compacts.
He explained that this new phase of support would help convert those commitments into measurable results.
He added that the priority is to ensure that households, entrepreneurs, and communities gain actual access to electricity.
Shonibare also said the project will offer hands-on technical assistance to support governments in implementing reforms and speeding up electricity connections.
source: nairametrics.com
African Energy Council