The Federal Government has disclosed that $15.5 billion of the $32.8 billion needed for the Mission 300 Compact initiative is expected to come from the private sector.
This was revealed by the Minister of Power, Chief Adebayo Adelabu, at the Mission 300 Stakeholders Engagement meeting held at the Transcorp Hilton Hotel, Abuja.
According to a statement released by the Ministry of Power, the Mission 300 Compact is aimed at delivering electricity access to 300 million unserved people across Africa. The compact forms a critical part of Nigeria’s energy transition drive and the broader goal of boosting economic development across the continent.
“The estimated investment required for the Mission 300 Compact is $32.8 billion, with $15.5 billion expected from the private sector,” the statement said.
Adelabu noted that the stakeholder engagement is designed to align interests, strategize implementation, and forge key partnerships to transform Nigeria’s Energy Compact into tangible results.
He reaffirmed the Federal Government’s commitment to driving sustainable and bankable reforms in the power sector, stressing that energy access is essential for inclusive growth and development across Africa.
