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Highlights :
• Nigeria secures €20 million from Germany to support its energy transition
• The funds will promote renewables, expand infrastructure, and build skills
• Nigeria targets 50% renewable electricity and wider energy access by 2030
Nigeria will receive €20 million in support from Germany to expand renewable energy and improve electricity access. The financing deal, signed last week, will focus on boosting clean energy projects, building technical skills, and upgrading energy infrastructure. The resources will come from the KfW Development Bank and the Africa Enterprise Challenge Fund.
This initiative aligns with Nigeria’s broader plan to reshape its energy sector through the Nigeria Energy Compact. The Compact outlines clear targets: raising the annual growth rate for electricity access from 4% to 9%, and increasing the share of renewables in Nigeria’s electricity mix from 22% to 50% by 2030.
To meet these goals, Nigeria plans to raise $23.2 billion in funding, including $15.5 billion from the private sector.
Several other programs are already underway to drive this transition, but Nigeria’s Minister of Finance, Abubakar Atiku Bagudu, emphasized the need for better coordination. According to him, avoiding project duplication and ensuring consistent governance are key to maximizing the impact of such initiatives.
The new agreement with Germany will only deliver results if it aligns with Nigeria’s energy strategy, channels support toward the Compact’s goals, and strengthens large-scale private investment in the sector.
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