EU okays 165m euros for Nigeria’s renewable energy

European Union (EU) has approved 165 million euros to support Nigeria’s renewable energy programme,

Ketil Karslen, E.U’s head of delegation to Nigeria and Economic Community of West African States (ECOWAS), said all was set for the funds to support the aspirations of the federal government to improve electricity supply and grow the economy.

He said the EU set a target of 32 per cent for its 28 member countries to provide renewable energy by 2030.

According to him, though the target appears ambitious, it will, nevertheless, enable Africa, especially Nigeria, to improve its renewable activities for economic growth.

In an interview with The Nation on the sideline of an event organised by the Delegation of the EU to Nigeria and ECOWAS in Lagos, Karslen said the fund will help in creating opportunities in the off-grid sub-sector of the electricity industry and grow businesses in the country.

Karlsen said: “More than 80 million people in Nigeria are outside the grid electricity bracket, a development, which has affected the growth of businesses and families. This implies that Africa and

“Nigeria, in particular, has a long way to go in the areas of creation, developing and usage of electricity. This is the reason EU is supporting power initiatives in counties in Africa and beyond.

“Nigeria has a huge population and this informed the decision by EU to support its renewable programme. Renewable is the energy for the future, because it is clean, affordable and provide a conducive habitats for the people.”

On the target, he explained: “If EU did not set an ambitious target for European countries, in order to motivate Africa to action, it would be difficult for the world to attain a very high standard in the area of provision of electricity.”

According to him, the world is changing, so is every facet of human endeavours.

This, he said, meant that the world must embrace the technology, which would help in providing solar and other renewables.

Nigeria’s population, he said, is growing rapidly, stressing that the development implied that the future generation of the country must create an revenue that would help sustain growth.

” This is the reason, EU is calling on individuals, communities, states and Federal Government, to see the need to give renewable energy a priority in order to recorded the much needed economic growth,” he said.