Financial Energy Review
…..by Ben Ndubuwa…..
In a bid to enhance Nigeria’s power generation, transmission, and distribution, the Federal Government has turned to Egypt for technical assistance and collaboration. The Minister of Power, Adebayo Adelabu, made the request during a meeting with the Egyptian Ambassador to Nigeria, Mohammed Fouad, in Abuja.
Adelabu stated that the initiative aligns with President Bola Tinubu’s Renewed Hope agenda, which prioritizes electricity as a fundamental right for all Nigerians. “Egypt has made remarkable strides in energy transformation, and we are eager to collaborate and learn from your expertise. Our goal is to ensure reliable, stable, and affordable energy access for all Nigerians,” Adelabu said.
The meeting focused on strengthening bilateral cooperation in energy expansion, particularly in renewable energy and rural electrification. According to Adelabu, Nigeria’s interest in learning from Egypt stems from the North African country’s successful engagements in the energy sector, including its previous collaboration with Siemens.
He highlighted the government’s commitment to improving electricity access in rural areas, emphasizing the economic constraints of extending the national grid. “Many rural areas cannot be connected to the grid due to economic constraints, but we cannot neglect them. Through our renewable energy programme, we are bridging this gap. We have secured significant investments, including $750 million from the World Bank’s DARES project and an additional $190 million from the Japan International Cooperation Agency, to support this initiative,” he noted.
Adelabu also provided updates on ongoing efforts to resolve challenges in the power sector, including grid reliability, aging infrastructure, and metering gaps. He cited the Presidential Metering Initiative as a key intervention to improve electricity supply.
In response, Ambassador Fouad expressed Egypt’s readiness to collaborate with Nigeria in closing the metering gap and sharing best practices in energy access. “Nigeria and Egypt have much in common, and there is immense potential for collaboration in the energy sector. We are committed to working together to achieve sustainable energy solutions for both countries,” Fouad said.
Commending Nigeria’s strides in power sector development, Fouad noted that Egypt is also increasing its renewable energy contribution from 14 per cent to 42 per cent and hopes to learn from Nigeria’s experience. “Nigeria and Egypt had a Memorandum of Understanding on power projects, and we should activate it. We can start by holding virtual meetings and exchanging ideas to identify areas of cooperation because power expansion, especially in renewable energy, requires ambitious planning,” he added.
The meeting underscored the deepening partnership between Nigeria and Egypt in advancing energy access and renewable energy development. Both nations aim to leverage their shared resources and expertise to drive sustainable growth in their power sectors.
