Sahara Group backs Nigeria’s $23.2bn energy expansion plan

BY MOTOLANI OSENI

The executive directive of Sahara Group, Mr. Kola Adesina has announced his company’s plans to key into Africa’s collaborative energy strategy to address the continent’s energy deficiency.

In particular, the Group has indicated interest in Nigeria’s ambitious energy strategy that requires private sector participation. Adesina, said Africa needs to adopt collaborative policies, sustained multi-stakeholder investments, and bold reforms in the quest of addressing the continent’s low energy access.

Speaking to the media at the recently concluded Mission 300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam, Adesina said, the continent’s pressing energy challenges require immediate action involving African nations and international partners to adequately power underserved regions, promote renewable energy adoption, and improve energy efficiency across the continent.

Also, at the summit, the Federal Government launched a bold initiative to bridge Nigeria’s electricity gap, unveiling an ambitious energy access program aimed at revolutionizing the country’s energy sector. It said, the programme will require $23.2bn, out of which $15.5bn will be provided by the private sector.

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Minister of Power, Adebayo Adelabu, is spearheading the programme. The programme is a fallout from the just-concluded Mission 300 Africa Energy Summit held in Dar es Salam, Tanzania.

The two-day summit, which brought together African leaders, business executives, and development partners to advance the continent’s ambitious energy agenda was hosted by the Government of Tanzania, the African Union, the African Development Bank Group, and the World Bank Group, and aims to accelerate electricity access for 300 million Africans by 2030.

Through the energy access programme, tagged National Energy Compact, the government aims to increase electricity access from four per cent to nine per cent annually to close the energy gap, boost access to clean cooking solutions from 22 per cent to 25 per cent annually, expand renewable energy’s share in the power generation mix from 22 per cent to 50 per cent, and mobilise $15.5bn in private investment to drive last-mile electrification.

While unveiling the programme, the Minister said it would expand electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians. With 150 million Nigerians already electrified, Nigeria remains committed to ensuring universal access to affordable and sustainable energy by 2030.

“Sahara Group is delighted that heads of government and other critical stakeholders are keen on lighting up Africa by exploring creative ways of extending electricity to over 600 million Africans who currently lack access. The agreement to provide access to electricity for 300 million people in Africa by 2030 which was endorsed by the heads of government and key partners at the summit is a huge step for Africa. Sahara Group is committed to supporting the achievement of this laudable vision through working in collaboration with all stakeholders,” Adesina said.

According to Adesina, the task ahead calls for partnerships among governments, private sector stakeholders, development partners, and civil society organizations. He noted that in addition to securing funding, robust capacity building in energy infrastructure and technology would be required to deliver the initiative seamlessly.

Adesina said, working through the Sahara Power Group, the energy conglomerate would continue to make ‘viable and sustainable’ investments in Power Generation and Distribution assets across the continent.