Business

FG Set To Boost Power Sector Investment To Drive Economic

Published

9 months ago

July 15, 2024

Joel Ajayi

In its renewed determination to drive economic growth and development in the country, the Federal Government has continued to engage with relevant stakeholders with a view to boosting power sector investment as a major priority area for achieving the desired objective.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, while chairing a meeting with World Bank delegates, led by Dr. Ndiamé Diop, Country Director for Nigeria, and Ms. Olu Verheijen, Special Adviser to the President on Energy, in his office in Abuja, today, reaffirmed President Bola Ahmed Tinubu Administration’s commitment to repositioning the economy for the future of Nigeria.

He stated that the meeting was held to discuss innovative ways to drive Nigeria’s power sector forward.

HM Edun informed that the meeting focused on World Bank-supported initiatives, including the Power Sector Recovery Operation (PSRO) and the Distribution Sector Recovery Program (DISREP), aimed at improving power distribution and management systems in order to ensure economic growth and development in the nation
Key highlights from the meeting include:

– Plans to roll out 3.5 million meters to enhance power distribution- $50 million funding for state solar plant pilots and infrastructure upgrades- Measures to support tariff frameworks, market reforms, and co-financing the Transmission Company of Nigeria’s Performance Improvement Plan.

This collaboration aims at strengthening Nigeria’s power sector, enhancing energy access, promoting economic growth and development, improving job creation as well as poverty alleviation in line with the Renewed Hope Agenda of the present administration.

The Honourable Minister and World Bank delegates expressed their commitment to working together towards achieving these goals for the benefit of all Nigerians.

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Business

Clean Energy Transition Can’t Succeed Without Workers’ Rights – REAN

Published

4 hours ago

March 27, 2025

The Gleamer

By Joel Ajayi

The Executive Secretary of the Renewable Energy Association of Nigeria (REAN), Dr. Tosin Akande, has emphasized that a successful clean energy transition is impossible if workers’ rights are neglected.

The energy transition refers to the shift from reliance on fossil fuels to renewable and cleaner energy sources for a more sustainable and environmentally friendly future.

Dr. Akande issued this warning in her goodwill message at the public presentation of the Workers’ Charter of Demand and Stakeholders’ Engagement held on Thursday in Abuja.

She stressed the importance of worker inclusion in the clean energy transition, warning that ignoring labor rights could jeopardize the process.

“A clean energy transition cannot be successful if workers are neglected. We must create mechanisms for reskilling and upskilling, particularly for workers who have spent their careers in the fossil fuel industry,” she stated.

Dr. Akande also highlighted the renewable energy sector’s vast potential for job creation, emphasizing the need for strong policies to prevent unemployment and poor working conditions.

“Without strong policies, many workers could face job losses or poor working conditions,” she warned.

Her goodwill message reinforced the urgent need for collaboration among government, labor unions, and industry stakeholders to ensure that Nigeria’s transition to clean energy is both equitable and sustainable.

Dr. Akande commended Friedrich-Ebert-Stiftung (FES) Nigeria and its partners for their dedication to advocating labor rights amid Nigeria’s energy transition process.

The event, organized by the Institute for Peace and Conflict Resolution (IPCR) in collaboration with FES Nigeria, also marked the launch of the Justice Department Transition Project, which aims to ensure a just and sustainable shift to renewable energy.

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