Nigeria seeks global investment to unlock energy potential – Edun

Nigeria is positioning itself as a key player in the global energy market as it seeks to harness its vast energy potential and expand access to electricity, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Speaking at the Sustainable Energy for All (SEforALL) Forum in Bridgetown, Barbados, Edun called on global investors to partner with the government in driving the country’s energy transformation.

At the high-level gathering, which focused on advancing global energy access and sustainability, Edun emphasized the need for strategic investment and greater private sector participation to achieve universal energy access.

“The government alone cannot fund the country’s energy needs. Our reforms are designed to unlock private investment, improve market dynamics, and accelerate the transition to cost-reflective tariffs,” he stated.

The minister disclosed that Nigeria is a key beneficiary of Mission 300, a World Bank and African Development Bank initiative aimed at providing electricity to 300 million Africans. He stated that the country is leveraging this initiative to expand renewable energy infrastructure and improve access to underserved communities.

Nigeria’s Minister of Power, Adebayo Adelabu, also attended the forum, reinforcing the country’s commitment to energy sector reforms and improved electricity access.

The SEforALL Forum brought together policymakers, development partners, and energy experts to drive solutions for a just and inclusive energy transition.