The World Bank Announces $750 Million Pledge to Enhance Electricity Access in Nigeria
The World Bank has recently revealed its ambitious plan to allocate an additional $750 million towards the Nigeria Electrification Project (NEP), aiming to deepen access to electricity in the country. Ms. Elizabeth Huybens, the Director of Strategy and Operations for the Western Central African Region at the World Bank, shared this exciting news while visiting the 60 KiloWatts Mini Grid project in Kilankwa Community, located in the Kwali Area Council of Abuja.
Highlighting the significance of this endeavor, Huybens stated, “This groundbreaking national electrification project, valued at approximately $350 million, is nearing completion, and we are now preparing a follow-up project that will receive $750 million in funding. We are wholeheartedly extending our support to what we believe is a critical initiative, with Nigeria at the forefront of small grid development worldwide.”
Huybens further emphasized that the Kilankwa project would expedite the provision of electricity to a larger population, surpassing the speed achievable through merely extending the national grid.
“The World Bank firmly believes that universal access to electricity is one of the most crucial objectives for any country to pursue,” she added.
Elaborating on the importance of electricity in contemporary life, Huybens stated, “Without electricity, we cannot progress towards electric vehicles, and we cannot even charge our cell phones. It is inconceivable for me to imagine modern life without electricity and to envision poverty reduction without widespread access to this vital resource. As the World Bank’s overarching goal is to assist nations in eradicating poverty, we must support them in providing electricity access to their populations.”
Ahmad Salihijo, the Managing Director of the Rural Electrification Agency (REA), revealed that the Kilankwa project presently serves approximately 300 households and businesses. He highlighted that the project was developed under the Performance-Based Grant of NEP, made possible by the World Bank’s involvement.
With this significant financial commitment from the World Bank, Nigeria is poised to make remarkable strides in expanding access to electricity, improving the lives of its citizens and fostering socioeconomic development throughout the country.