PARIS OLYMPIC GAMES
The Federal Government has secured the endorsement of the United States of America for its solar power initiative, a key component of its comprehensive strategy to ensure the provision of dependable and high-quality electricity to commercial and residential consumers nationwide.
Mr. Bolaji Tunji, the Special Adviser on Strategic Communication and Media Relations to the Minister of Power, disclosed this in a statement on Friday.
The US Ambassador to Nigeria, Mr. Richard Mills, confirmed America’s commitment to supporting the solar power project when he met with the Minister of Power, Dr. Adebayo Adelabu, in Abuja on Wednesday.
The project, which involves Sun Africa LLC, an American company at the forefront of efforts to meet Africa’s energy needs, aims to deliver critical power infrastructure to Nigeria.
During the discussion, Mills reaffirmed the US government’s backing for the project, saying, “You can count on the US government’s support.”
Additionally, he invited the minister to participate in a forthcoming Energy Summit in Washington, scheduled for September 11–12, 2024.
He noted that the summit would focus significantly on the electricity sector, with working groups engaged in strategic energy dialogue.
In his address, Adelabu reiterated the Ministry of Power’s dedication to empowering local industries by providing them with adequate power to boost their productivity.
He expressed concern that, despite Nigeria’s vast population and market potential, the country still relies heavily on imports, accounting for around 80% of its consumption, which strains the nation’s limited foreign exchange reserves.
He said: “The reverse has been the case simply because Nigeria still imports about 80 percent of what it consumes, and this has left the country with a lot of burden since the country has limited sources of foreign exchange to fund the import dependence.”
The minister presented the ministry’s key priorities, including legislative measures to decentralize the power sector, the development of a comprehensive National Integrated Electricity Policy and Strategic Implementation Plan, and the introduction of suitable tariffs to drive market growth and infrastructure upgrades.
He also emphasized the need for infrastructure development through partnerships with international investors and the implementation of an energy transition plan to achieve net-zero emissions.
Adelabu updated the visiting team on the Sun Africa Power Project, assuring them that considerable progress is being made in securing the necessary permits for a smooth launch.
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