Nigeria Energy Forum Targets $100m New Financing
The 2024 Edition of the Nigeria Energy Forum (NEF 2024) is targeting $100 million new financing for the energy sector.
The Chairman of NEF, Dr Oluwole Adeuyi, disclosed this during the 2024 conference which kicked off in Lagos on Monday.
Adeuyi spoke just as the Minister of Power, Chief Adebayo Adelabu, said the federal government remained committed to transforming the country’s power sector.
Adeuyi said the 2024 Forum followed a successful origination of a landmark $40m agro-industry financing deal at NEF 2023 between AfreximBank and a homegrown manufacturer.
He said, “The 2024 Forum is building on the success of last year’s story, and we have set a minimum target to originate and mobilise over $100m of new financing. This is to foster expansion of agro-industry and accelerate solid mineral processing in Nigeria, and the goal is to see our local manufacturers thriving globally.”
The NEF 2024 theme was titled: “Energising Sustainable Industrialisation”.
The Minister of Power, represented by the Director of Renewables and Rural Development, Dr Sunday Owolabi, stated that the federal government had “increased our installed generation capacity by bringing new power plants on line and rehabilitating existing ones. This has resulted in a substantial increase in the overall power supply to the national grid.”
He called on stakeholders, government agencies, private sector partners, international organizations and Nigerian people to join them in the endeavour.
