Nigeria Partners USAID On N115.2bn Deal To Transform Power Sector

Nigeria's Power Grid Suffers Failure Fourth Time In 2024
Nigeria's Power Grid Suffers Failure Fourth Time In 2024

In a landmark move to revitalize Nigeria’s power sector, the Federal Ministry of Power and the United States Agency for International Development (USAID) have entered into a historic N115.2 billion partnership agreement.

This Memorandum of Understanding (MoU) aims to drive meaningful reforms, promote market transparency, ensure liquidity, and expand access to affordable and reliable electricity for all Nigerians.

According to USAID/Nigeria Mission Director Melissa Jones, “Today’s goal is to strengthen collaboration between USAID and the Federal Government of Nigeria and to provide a framework for our partnerships with other key actors, including state and local governments, electricity generation and distribution sectors, and the off-grid sector. It is laudable and timely.”

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Nigeria’s Minister of Power, Adebayo Adelabu, expressed his appreciation for USAID’s ongoing assistance and highlighted the transformative potential of their collaboration.

“This partnership with USAID is a significant milestone in achieving a sustainable and reliable electricity supply for all Nigerians. Together, we will tackle the longstanding challenges in the power sector, ensuring transparency, enhancing market liquidity, and accelerating our transition to clean energy solutions,” he stated.

With this N115.2 billion deal, both parties are committed to delivering tangible benefits to all Nigerians, promoting economic growth, and sustainable development.

As Minister Adelabu emphasized, “The ministry is committed to ensuring these interventions deliver tangible benefits to all Nigerians, promoting economic growth and sustainable development.”

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