President Bola Tinubu has revealed that the Nigeria-Grid Battery Energy Storage System is set to receive a $500 million facility from the African Development Bank (AfDB), a project that will enhance electricity access for 2 million Nigerians. This announcement followed Tinubu’s engagement at the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, where he joined other African leaders in deliberations on strategies to expand energy access across the continent.
The summit, organized by the Tanzanian government in collaboration with the African Union, AfDB, and the World Bank Group, served as a critical forum for discussing Africa’s energy future. Speaking on behalf of President Tinubu, Minister of Power Adebayo Adelabu underscored the need for collective efforts to enhance energy accessibility and stimulate economic development across Africa. He urged leaders on the continent to prioritize energy initiatives, emphasizing that stable and affordable electricity is essential for industrial growth and overall economic prosperity.
Tinubu further highlighted AfDB’s major energy commitments, including a $1.1 billion initiative aimed at providing electricity to 5 million people by 2026. He commended the bank’s $200 million Nigeria Electrification Project, which is expected to supply power to 500,000 people by 2025, and its planned $700 million investment in the Nigeria Desert to Power initiative. These combined efforts are designed to ensure clean and reliable electricity reaches millions across Nigeria and Africa at large.
Additionally, the President disclosed that Nigeria is advancing significantly with the World Bank’s $750 million initiative to expand distributed energy access through mini-grids and solar systems, a move that will positively impact 16.2 million people. This effort is part of a broader agenda to develop a robust energy infrastructure capable of meeting the country’s growing population and industrial demands.
Acknowledging the contributions of key international partners, Tinubu expressed gratitude to the World Bank Group, AfDB President Dr. Akinwumi Adesina, the UN Sustainable Energy for All initiative, the Rockefeller Foundation, and the Global Energy Alliance for Development. He emphasized the necessity of a shared responsibility in tackling Africa’s energy deficit, noting that despite the continent’s abundant energy resources, millions still lack access to consistent and affordable electricity.
Nigeria is also making headway in renewable energy adoption, including initiatives aimed at establishing an electric vehicle (EV) charging infrastructure. The government is actively working to eliminate adoption barriers by fostering partnerships and offering financial solutions to make EVs more accessible. Tinubu revealed that the first 100 electric buses are already operational in Nigeria as part of broader efforts to scale up renewable energy and cut down vehicular emissions.
As part of its continued reforms in the energy sector, Nigeria has attracted more than $6 billion in fresh investments in 2024 alone. The President reaffirmed the government’s commitment to building on this success by actively seeking further investments in renewable energy, oil and gas, and energy efficiency.
During the summit, the International Finance Corporation (IFC) announced a $70 million investment in five Nigerian Renewable Electricity Service Companies (RESCOs) under the Nigeria Distributed Access Through Renewable Energy Scale-Up (DARES) program. The Rural Electrification Agency (REA) will oversee the implementation of these initiatives to ensure that Nigeria’s ambitious energy sector reforms meet last-mile electrification targets.
The summit concluded with the adoption of the Dar es Salaam Declaration, in which leaders from 12 African nations pledged to achieve universal electricity access for all citizens within the next five years. This historic agreement underscores the increasing momentum to address Africa’s energy challenges and highlights the critical role of sustained investment, technological innovation, and cross-border collaboration.
With an emphasis on sustainable and inclusive energy solutions, both at the national and regional levels, the commitments made by African leaders at the summit mark a significant milestone toward ensuring a future where energy in Africa is reliable, accessible, and environmentally sustainable.