The Rural Electrification Agency (REA) has launched 42 renewable energy projects across Nigeria as part of efforts to expand electricity access, promote clean energy adoption, and support economic development in underserved communities. The initiative is expected to improve power supply for households, businesses, schools, healthcare facilities, and productive enterprises in various parts of the country.

According to the agency, the projects include solar mini-grids, standalone solar systems, and other renewable energy infrastructure designed to provide reliable and sustainable electricity to communities with limited or no access to the national grid. The investments form part of the Federal Government’s broader strategy to bridge Nigeria’s electricity access gap while accelerating the transition to clean energy.

REA said expanding renewable energy infrastructure will not only improve energy security but also stimulate local economic activities, create employment opportunities, and enhance the delivery of essential public services. Reliable electricity, the agency noted, is critical to improving healthcare, education, agriculture, and small business productivity in rural communities.

The agency also highlighted the importance of partnerships with development organisations, private investors, and financial institutions in delivering sustainable energy solutions nationwide. It reaffirmed its commitment to increasing energy access through innovative financing models and technology-driven projects.

Industry experts believe renewable energy investments will play a significant role in reducing dependence on fossil fuels, lowering carbon emissions, and supporting Nigeria’s long-term climate and sustainable development goals. They added that expanding off-grid power solutions remains essential for achieving universal electricity access.

The launch of the 42 projects reflects the government’s continued efforts to strengthen the country’s renewable energy sector and improve the quality of life for millions of Nigerians through reliable, affordable, and environmentally friendly electricity solutions.

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Nigeria’s infrastructure investment is projected to rise significantly over the next two decades, with annual spending expected to reach $40 billion by 2050, according to a new report by PwC.

The firm’s Global Infrastructure Outlook places Nigeria as Africa’s largest infrastructure market, ranking 23rd globally in investment potential. The projection reflects a 77 percent increase from current spending levels, driven by expanding demand across key sectors.

Growth Outlook Backed by Demographics and Urbanisation

The report attributes Nigeria’s long-term growth trajectory to rapid population expansion, accelerating urbanisation, and rising demand for modern infrastructure systems.

These structural drivers are expected to sustain Nigeria’s leadership position within Africa’s infrastructure landscape, even as other emerging markets scale up investments.

Africa, in general, is projected to record the fastest infrastructure investment growth globally through 2050, reinforcing Nigeria’s strategic importance on the continent.

Power, Transport, and Digital Systems Lead Expansion

Infrastructure growth will be concentrated in three primary sectors: power, transport, and digital infrastructure.

Power investment is expected to expand the fastest, rising by 187 percent—from $1.1 billion in 2024 to $3.2 billion by 2050. This reflects ongoing efforts to address electricity shortages, improve grid stability, and support industrial productivity.

Transport infrastructure is also set to attract substantial capital as Nigeria continues to develop road networks, rail systems, and logistics corridors to boost trade and economic activity.

Digital infrastructure is emerging as a critical priority, with increasing investments in data centres, connectivity, and smart systems shaping future development strategies.

Global Investment Trends Provide Context

Globally, infrastructure spending is expected to grow from $4.4 trillion in 2024 to $6.9 trillion by 2050, with cumulative investment reaching $151.1 trillion.

This expansion is driven by major economic shifts, including electrification, digital transformation, and urban development.

For Nigeria, aligning with these global trends will be essential to attract long-term capital and remain competitive in international markets.

Funding Gap Remains a Major Constraint

Despite the positive outlook, Nigeria faces significant funding challenges in achieving the projected $40 billion annual spending level.

Current infrastructure deficits remain wide, with financing needs exceeding government budget capacity.

PwC highlights public-private partnerships (PPPs) as a critical mechanism for closing this gap, enabling collaboration between government and private investors to deliver large-scale projects.

However, key risks persist, including regulatory uncertainty, institutional inefficiencies, and historical delays in project execution.

Implications for Investors and Policymakers

For investors, the report signals strong long-term opportunities in infrastructure assets, particularly in power, transport, and digital sectors where demand continues to grow.

For policymakers, the findings underscore the need for consistent regulatory frameworks, improved project execution capacity, and innovative financing models.

Delivering on these projections will require coordinated planning and sustained reform efforts to translate investment potential into measurable development outcomes.

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The Minister of Power, Adebayo Adelabu, has indicated plans to resign from the cabinet of President Bola Tinubu as he prepares to contest the 2027 governorship election in Oyo State.

Adelabu disclosed his intention through a statement issued by his media aide, noting that he has formally informed the President of his decision to step down in the coming days.

According to the statement, the timing of his planned resignation is aimed at ensuring stability in the power sector and allowing for continuity in ongoing reforms before his exit.

The minister recently met with Tinubu at the Presidential Villa in Abuja, where he presented a detailed report on his stewardship over the past two and a half years.

During the meeting, Adelabu highlighted key achievements recorded under his leadership, including efforts to stabilise electricity generation, improve transmission capacity, and implement reforms across the power sector value chain.

A major focus of the engagement was the presentation of the National Integrated Electricity Policy (NIEP), alongside its Strategic Implementation Plan (SIP) and the Medium-Long Term Integrated Resource Plan.

These frameworks are designed to guide the long-term development of Nigeria’s electricity sector, with emphasis on energy security, expanded access to power, and the integration of renewable energy sources.

The SIP outlines specific actions, timelines, and institutional responsibilities required to translate policy goals into measurable outcomes, targeting improvements across generation, transmission, and distribution.

Adelabu also expressed appreciation to the President for his support during his tenure and reaffirmed his commitment to national development, particularly in advancing reforms within the power sector.

Sources indicated that Tinubu has granted his approval for the minister to pursue his governorship ambition in Oyo State.

Adelabu’s planned exit comes at a critical time for Nigeria’s power sector, which continues to face challenges including gas supply constraints, infrastructure deficits, and funding gaps.

His resignation is expected to trigger a transition in leadership at the Ministry of Power as the government continues efforts to stabilise electricity supply and improve service delivery nationwide.

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Bola Ahmed Tinubu has approved a ₦3.3 trillion payment plan to settle longstanding debts in Nigeria’s power sector, in a move aimed at stabilising electricity supply and restoring investor confidence.

The approval, announced on Sunday by presidential spokesman Bayo Onanuga, follows a comprehensive review of legacy debts accumulated under the Presidential Power Sector Financial Reforms Programme.

Onanuga said the debts, incurred between February 2015 and March 2025, were verified and agreed upon as a “full and final settlement” to ensure transparency and fairness in resolving the sector’s financial challenges.

He disclosed that implementation has commenced, with 15 power generation companies already signing settlement agreements worth ₦2.3 trillion. The Federal Government has so far raised ₦501 billion to fund the payments, out of which ₦223 billion has been disbursed, while further disbursements are ongoing.

According to the presidency, the intervention is expected to improve liquidity across the electricity value chain, leading to more stable power generation and enhanced reliability of supply to homes and businesses.

“With payments reaching the power value chain, generation will be more stable. With power plants supported, electricity reliability will improve,” Onanuga said, adding that increased investment, job creation and improved service delivery would follow as the sector stabilises.

Also speaking, the Special Adviser to the President on Energy, Olu Arowolo-Verheijen, said the programme goes beyond debt settlement to rebuilding confidence across the power sector.

“This programme is not just about settling legacy debts. It is about restoring confidence — ensuring gas suppliers are paid, power plants remain operational, and the system becomes more reliable,” she said.

Arowolo-Verheijen added that the reforms form part of a broader strategy that includes improved metering systems and service-based tariffs aimed at aligning electricity costs with quality of supply.

She noted that the government is also prioritising power supply to industries, businesses and small enterprises, stressing that reliable electricity is critical for job creation, economic growth and improved livelihoods.

“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she said.

President Tinubu commended stakeholders in the power sector for their cooperation in resolving the long-standing issues and confirmed that the next phase of the programme, known as Series II, will commence later this quarter.

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