FG Launches $70M Grant Facility For Green Energy Projects

16 September 2020 by Julian Osamoto

The Minister of Power Mr. Saleh Mamman, has launched a $70M grant Technical Facility for the development of green energy projects in Nigeria.

The Project which was co funded by the European Union and French Development Agency, AFD in collaboration with the Manufacturers Association of Nigeria, MAN, seeks to improve access to affordable and renewable energy efficiency in the country.

The French Development Agency AFD established the Sustainable Use of Natural Resources and Energy
Finance SUNREF, to provide technical assistance to the Manufacturers Association of Nigeria MAN and other companies in the energy sector towards achieving the electricity vision 303030 in the country.

At the virtual launch of the project in Abuja, the Minister of Power represented by the Director Renewable Energy and Access to Rural Power Mr. Faruk Yabo, commended the organization’s initiative noting that the $70M grants would go a long way in boosting the Federal Government electricity vision of 30% of 30GW from renewable energy by 2030.

He said the Ministry of Power is focusing on the the following thematic areas which includes, Generation, Transmission, Distribution and Connection to the end users; Sector liquidity; Completion of legacy projects; Power Access to communities, Manufacturers, SMEs and Coordination across the sectors”.

According to him the challenges facing renewable energy and energy efficiency in Nigeria was lack of fund, which he expressed optimism that SUNREF project would go a long way in improving the quality of performance with respect to international treaties and agreements Nigeria had signed to actualize SDG goals Seven and 13.

On his part, President of the Manufacturers Association of Nigeria MAN, Mr Mansur Ahmed, represented by the Director of Economics and Statistics, Mr. Olwasegun Osundipe, expressed the believe that the initiative would have positive multiplier effects on the manufacturing sector, as well as improve competitiveness of manufactured products.

The Team Leader, SUNREF Nigeria Programme, Javier Betancourt said, the SUNREF Nigeria programme brought in its expertise and provided financing and technical assistance for renewable energy and energy efficiency projects to Nigeria and assisted businesses to be more efficient and transition to green energy.”

The meeting had in attendance the Minister of finance, Zanaib Ahmed, represented by AbdulFatai Abdulsalam, Deputy Director; Minister of Industry, Trade and Investments, Otunba Adeniyi Adebayo, represented by Banarbas Jato, Deputy director, Industrial Development; Chairman Nigerian Electricity Regulatory Commission NERC, Prof. John Momoh; among other dignitaries.

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