The Nigerian government has reaffirmed its commitment to energy sector transformation by prioritizing private investment, recognizing that public funds alone are insufficient to achieve universal energy access.
Speaking at the Sustainable Energy for All (SEforALL) Forum in Barbados on Friday, Finance Minister, Wale Edun, underscored the need for private capital to drive sustainable and cost-effective electricity solutions.
“The government does not have the balance sheet to fund this alone. Our reforms are designed to unlock private investment, improve market dynamics, and accelerate the transition to cost-reflective tariffs,” Edun stated.
The forum, which brought together global leaders and energy experts, focused on promoting energy equity and climate resilience.
Nigeria, a key player in the World Bank and African Development Bank-backed Mission 300 initiative, aims to leverage international partnerships to expand renewable energy infrastructure and electrify underserved communities.
