Nigeria’s Electricity Sector Ripe for Investors — Wale Edun

Kehinde Fajobi

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called on foreign investors to seize opportunities in Nigeria’s electricity sector, describing it as ripe for transformative growth.

Speaking on Monday at the African Energy Summit in Dar es Salaam, Tanzania, Edun emphasised the government’s commitment to achieving macroeconomic stability, advancing clean energy goals, and ensuring universal energy access.

“Nigeria’s electricity sector is poised for transformative growth, and investors are invited to be a part of this exciting journey,” he said.

According to a statement from the Ministry of Finance, the minister highlighted Nigeria’s focus on energy security and clean energy transition under the “Mission 300” initiative.

This includes plans to modernise the grid and improve the sector’s capacity and reliability to drive economic growth.

“We have partnered with the private sector, and since regulating the sector, we’ve set up 150 mini-grids and connected a million solar panels.

“What we are focused on is ensuring profitability in energy provision, as this is key to meeting the demand,” he added.

Edun also confirmed that President Bola Ahmed Tinubu would attend the Africa Heads of State Energy Summit, a move he described as reflecting Nigeria’s commitment to leading discussions on energy access and clean energy in Africa.

The minister expressed optimism that Nigeria’s economic reforms and robust investment climate would attract global stakeholders to drive progress in the energy sector.

He encouraged investors to collaborate with the government to close the country’s electricity gap and align with broader clean energy goals.

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