General
World Bank, AfDB Disburse $550m for Rural Electrification Projects
By Adedapo Adesanya
The World Bank and the African Development Bank (AfDB) have provided $550 million for the Rural Electrification Agency (REA) to support the implementation of its off-grid solution projects.
This was disclosed by Mr Ahmed Abubakar on behalf of REA in Abuja.
He noted that out of the amount, $213 million was for the mini-grid components of both lenders while $75 million was for standalone solar home systems component of the World Bank.
It was further explained that $205 million was for Energizing Education Programme (EEP) Phases II and III components of both institutions, while $20 million is for the productive use component of the African lender, as well as $37 million for technical assistance.
“The objective of the project is to provide clean, safe, reliable and affordable electricity access to a minimum of 2.5 million Nigerians which equates to about 500,000 households.
“A breakdown of what the programme has achieved so far is in the signing of grant agreements under the mini-grid sub-component, with 13 companies for the deployment of solar mini-grids across 86 sites in off-grid communities,” he said.
Mr Abubakar added that REA had deployed and commissioned seven solar hybrid mini-grids with a total connection of 3,828 and 529.79 kW energy capacity.
He said that the agency also signed grant agreements with 26 companies under the Output-Based Fund (OBF) sub-component of the standalone solar home systems for homes and MSMEs.
“REA has also installed 221,971 Solar Home Systems (SHS) in households, micro, small, and medium enterprises as well as public facilities.
“The Rural Electrification Agency (REA), through the Nigeria Electrification Project (NEP), has been providing off-grid solutions to bridge the electricity gap in unserved and underserved rural communities.
“This includes households, micro, small, and medium enterprises, Federal Universities, as well as healthcare centres across the six geopolitical zones of the country, with the financial support of the WB and the AfDB, respectively.
“The NEP is private sector driven and it provides grant subsidies under its solar hybrid mini-grids, standalone solar home systems and productive use appliance components to bridge the gap in access to electrification.
“And stimulate load demand, whilst also improving the means of livelihood of the consumers, towards making the mini-grid powered communities more attractive and viable,” he said.
The agency also noted that it has signed contract agreements with eight companies for the deployment of containerized solar hybrid solutions to power 100 Isolation and Treatment Centres (ITCs) under the REA/NEP COVID-19 & Beyond intervention programme.
“REA conducted community engagement exercises in nine states – Ogun, Cross River, Sokoto, Niger, Plateau, Abia, Bauchi, Kano and Anambra – to sensitise and have community buy-in for the sustainability of the NEP mini-grid projects.
“REA has also commenced preparations for the deployment of solar hybrid power plants in Federal Universities and Teaching Hospitals, under the Energizing Education Programme Phases II and III.
“REA/NEP calls for more support from the private sector to help bridge the electrification gap by visiting the NEP website at www.nep.rea.gov.ng on how to apply as it concerns the component that best suits their interest and experience.”
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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