Nigeria Aims for Universal Electricity Access by 2030 with $23bn Plan — Tinubu
President Bola Tinubu has concluded his visit to Dar es Salaam, Tanzania, where he joined fellow African leaders for the Mission 300 Africa Energy Summit.
A statement by his spokesman, Bayo Onanuga, revealed that the two-day summit, hosted by Tanzania in collaboration with the African Union, the African Development Bank (AfDB), and the World Bank Group, culminated in the adoption of the Dar es Salaam Declaration. The Declaration focuses on ensuring electricity access for 300 million people across Africa by 2030.
At the Julius Nyerere International Convention Centre, African leaders—including those from Nigeria, Chad, Côte d’Ivoire, the Democratic Republic of the Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Senegal, Tanzania, and Zambia—endorsed the Declaration, committing to improve electricity access for their citizens within the next five years.
In a speech delivered by Nigeria’s Minister of Power, Adebayo Adelabu, President Tinubu praised the collective efforts of international development partners, including the AfDB and World Bank Group, who have pledged to help bring electricity to millions across the continent by 2030.
President Tinubu emphasized the importance of prioritizing energy access, urging African leaders to take collective action: “Let us work together to create a brighter future for our citizens—where every African can access reliable and affordable energy. A future where our industries thrive, our economies grow, and our people prosper.”
He reiterated Nigeria’s commitment to providing reliable, affordable, and sustainable electricity to the country’s unelectrified population by 2030. “This is an ambitious goal, but we can achieve it together. As Nigeria’s President, I am committed to making energy access a top priority,” he said.
Tinubu also highlighted Nigeria’s progress, made possible by partnerships with development organizations. Notably, the AfDB’s $1.1 billion commitment aims to provide electricity for 5 million people by 2026, while an additional $200 million allocated to the Nigeria Electrification Project is expected to benefit 500,000 people by 2025. The AfDB is also planning a $700 million investment for the Nigeria Desert to Power program and $500 million for the Nigeria-Grid Battery Energy Storage System, which will provide electricity to an additional 2 million people.
The president further emphasized Nigeria’s renewable energy investments, particularly in solar power, and announced that the country is finalizing an electric vehicle (EV) charging infrastructure program focused on renewable energy. “This will ease adoption barriers, galvanize partnerships, and provide affordable EV financing options. I am pleased to announce that the first 100 electric buses are already in the country,” he said.
In 2024, Nigeria successfully attracted over $6 billion in new investments for its energy sector, and Tinubu’s administration is eager to build on this momentum in 2025 and beyond.
The International Finance Corporation (IFC) also announced at the summit that it is committing $70 million in private sector funding to five Nigerian Renewable Electricity Service Companies (RESCOs) under the Nigeria Distributed Access through Renewable Energy Scale-Up (DARES) program, which will be implemented by the Rural Electrification Agency (REA).
Nigeria’s National Energy Compact, presented at the summit, outlines specific targets and reforms aimed at expanding power generation, improving transmission and distribution infrastructure, promoting financially viable utilities, and encouraging private sector participation. The Compact also includes plans for distributed renewable energy and clean cooking solutions to enhance last-mile access.
According to the Compact, Nigeria will require an investment of $23.2 billion to achieve its electrification goals, with funding contributions from both the public and private sectors.