Nigeria’s Infrastructure Corporation has signed a Memorandum of Understanding with two partners, Solarge BV of the Netherlands and the African Green Infrastructure Investment Bank, for a Gigawatt Solar PV manufacturing plant in the country.
In a statement issued on Monday, it was revealed that the MoU was signed at the ongoing COP28 in Dubai, United Arab Emirates.
At the event, the Minister of Power, Adebayo Adelabu, said that the signing of the MoU demonstrates the collaborators’ commitment to creating a better future for upcoming generations.
He said, “This vision is destined to transform Nigeria’s energy landscape and illuminate several other associated sectors of the Nigerian economy. You have shown us your commitment to the growth and development of a new Nigeria, and we applaud and recognise your efforts.
“I would like to reiterate a statement that I made recently: a country that is serious about realising the potential of its people needs to provide adequate energy. In my capacity as Nigeria’s Minister of Power, I assure you that the government under the leadership of President Bola Ahmed Tinubu is committed to actualising all its promises.
“With the right leadership and support, we can begin the process of bridging the energy access gap that has inhibited our ability to industrialise, provide jobs for our people, enhance the quality of lives of Nigerians, especially the rural dwellers, and drive inclusive growth.
If we ever had any doubt, today reminds us that it is possible if we dare to dream, have the boldness to undertake these ventures, and are willing to reach out to partners across the global community for support and help.”
Adelabu added that the Nigerian power situation was dire, saying, “The transmission infrastructure is inadequate to wheel energy generated, the distribution capacity is limited by supply and the needed investment, and numerous problems incapacitate generation. We bear witness to the enormous stress on our national grid that continues to trigger power outages that adversely affect the daily lives of our citizens: homes, schools, hospitals, and businesses of diverse scales.
On her part, the Minister of Industry, Trade & Investment, Dr Doris Nkiruka Uzoka-Anite, emphasised the importance of industrialisation in addressing various socioeconomic challenges, such as job creation, import substitution, increased access to capital, and overall economic growth.
The Chief Executive Officer of Infracorp, Dr Lazarus Angbazo, said the objective of the project was to revolutionise Nigeria’s energy sector and have a positive impact on various sectors of the economy.
He said the goal was to elevate Nigeria’s economy to $1 trillion through sustainable and climate-resilient infrastructure.
