Lagos – Nigeria’s power generation efforts received a major boost after the United States pledged $7 billion to help with power generation in several African countries.
A White House statement said the funds from the initiative, Power Africa, would be distributed over the next five years.
Other African countries listed for the funds are Ethiopia, Kenya, Liberia, Tanzania, Uganda and Mozambique.
“These countries have set ambitious goals in electric power generation, and are making the utility and energy sector reforms to pave the way for investment and growth,” the White House statement said.
According to the statement, more than two-thirds of the population of sub-Saharan Africa is without electricity, and more than 85 per cent of those living in rural areas lack access to the facility.
In view of this, the White House said sub-Saharan Africa would need more than $300bn to achieve universal electricity access by 2030.
Nigeria, the continent's leading oil producer, currently spends about $11 billion annually on energy generation.
- CAJ News