The federal government has promised to improve power generation and supply and implement policies that will open the sector to foreign investments and partnerships.
Minister of power, Adebayo Adelabu said this during a meeting with EU Head of Mission to Nigeria, Ambassador Samuela Isopi, noting that the market would only be sustainable and run efficiently when there is a cost reflective tariff in place.
According to him, he was pleased with the EU programmes for the sector and confirmed their alignment with the ministry’s strategy, promising to work with the EU on its programmes especially on small hydro and state electrification projects within the new Electricity Act.
On his part, Isopi said the European Union (EU) is set to invest 37million Euros into Nigeria’s power sector, a fund different from the about 200 million Euro grants invested in the sector since 2008 which he said will cover small hydro-power and solar for health care facilities.
