The African Development Bank has stepped up support for Nigeria’s power sector reforms, releasing $500 million as part of its $1 billion Economic Governance and Energy Transition Support Programme. The Director-General of AfDB’s Nigeria Country Office, Dr Abdul Kamara, confirmed the disbursement during an event in Abuja on Wednesday, noting that the second phase of the programme is already in motion.
In addition, a $1.2 million grant has been set aside to fund a feasibility study for Battery Energy Storage Systems (BESS), which are expected to play a key role in stabilising the national grid and supporting the shift to renewable energy.
Dr Kamara added that the bank is also helping with the rollout of Nigeria’s Electricity Act and the development of state-level electricity markets. With millions still without reliable power, he said these efforts are crucial. Economic analyst Bismarck Rewane echoed the sentiment, stating plainly: “Without electricity, there’s no growth.” The AfDB’s support offers fresh momentum to fix one of the country’s most persistent challenges.
