In a significant move to tackle Nigeria’s energy challenges, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has ramped up engagements with international development partners.
The high-level meetings, held in Abuja this week, focused on advancing Nigeria’s leadership role in Mission 300, a continental initiative designed to accelerate electricity access across Africa.
What is Mission 300?
Mission 300 is a strategic African initiative aimed at connecting 300 million people to electricity by 2030. The program seeks to use energy access as a primary catalyst for economic growth, industrialisation, and development across the continent.
Driving Economic Growth Through Power
During the strategic sessions at his office, Mr. Edun emphasised that reliable electricity is not just about lighting homes, but is critical for driving productivity, industrial expansion, digital inclusion, and job creation.
He noted that accelerating the delivery of power projects and mobilising large-scale investments are central pillars of the Federal Government’s broader economic reform agenda.
To ensure success, the Minister highlighted Nigeria’s early adoption of the initiative’s Compact. He also announced the establishment of a joint Finance and Power Delivery Unit to coordinate implementation effectively.
Mr. Edun pointed to the increasing momentum in distributed renewable energy projects, which are now supported by innovative financing models and strengthened partnerships with the private sector.
World Bank Labels Nigeria a “Game Changer”
Global partners have expressed strong confidence in Nigeria’s approach. Anna Bjerde, Managing Director of Operations at the World Bank Group, commended the country’s reform efforts during the engagement.
Bjerde described Nigeria as a potential “game changer” for Mission 300, citing the country’s scale, commitment, and leadership. She noted that ongoing programmes are already expanding electricity access, positioning Nigeria as a key driver of the initiative’s overall success.
Alignment with President Tinubu’s Mandate
Also speaking at the event, the Minister of Power, Chief Adebayo Adelabu, underscored that Mission 300 aligns perfectly with President Bola Ahmed Tinubu’s economic mandate.
Chief Adelabu highlighted several ongoing improvements as evidence of the administration’s commitment to sustainable energy, including: progress in sector reforms, nationwide metering efforts, transmission restructuring, and regional power integration.
The meetings concluded with a consensus to fast-track implementation efforts. The parties agreed to focus on attracting capital at scale to ensure that Mission 300 delivers measurable economic impact for Nigerians.
This renewed push signals the Federal Government’s determination to leverage energy sector reforms as a cornerstone for long-term economic stability and growth.
