• Thursday, April 18, 2024
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EU creates €9m energy projects in Nigeria

EU creates €9m energy projects in Nigeria

The European Union has unveiled two new initiatives worth €9 million in Nigeria’s energy industry as part of its ongoing commitment to help the Federal Government provide clean, affordable, and sustainable energy for everyone.

The European Union (EU) revealed this on Tuesday during the project inception workshop in Abuja in collaboration with the Federal Government and the United Nations Industrial Development Organisation.

The projects, Advancing Nigeria’s Green and Just Transition to Net Zero through Circular Economy Practices and Small Hydro Power Development for Agro-industry (SHP-DAIN) Use in Nigeria, seek to improve energy accessibility, combat pollution and climate change.

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Advancing Nigeria’s Green Transition to Net Zero via Circular Economy Practices is a three-year project with a budget of €4 million, whereas SHP-DAIN has a budget of €5 million. The EU noted that the United Nations Industrial Development Organization would carry out both initiatives.

Both projects are part of the EU Global Gateway Strategy, a transformative initiative to enhance connectivity, foster economic growth, and promote sustainability through collaboration.

Concerning decarbonizing its economy and striving for a transition to net zero emissions by 2060, these projects bring Nigeria one step closer to its sincere goal of shifting towards a more sustainable and ecologically responsible future.

According to Samuela Isopi, the EU Ambassador to Nigeria and ECOWAS, the SHP-DAIN project would increase the capacity of small hydropower in Nigeria’s overall energy mix to promote productivity along the agricultural value chains and other businesses, enhance livelihoods, and promote food security and decent work.

She said, “The SHP-DAIN will support capacity strengthening of major actors from private, government, finance and target Micro, Small and Medium Enterprises sectors in the specifics of Small Hydropower through tailored training(s) and knowledge management.

“It will support the establishment of SHP of 2MW cumulative capacity for agri-industrial use across the six geo-political zones of Nigeria.

“It will support the development of policy and institutional framework on Renewable Energy for productive uses to streamline policies/incentive schemes towards a greater use of SHP, with cross-cutting activities for ensuring sustainability, which includes awareness development, visibility promotion, implementation of gender strategies, project management and monitoring.”

According to her, the Advancing Nigeria’s Green and Just Transition to Net Zero through Circular Economy Practices project is aimed at improving the management of used off-grid energy equipment and plastics through circular economy practices for mitigation of pollution and greenhouse gas emissions.

Isopi further explained that the new initiative would support the strengthening of policy and regulatory framework on promoting circular economy principles and practices and management of used energy equipment and the related implementation capacity while supporting the strengthening of enabling institutions at the Federal and State levels.

“It will support the strengthening of the private sector by developing business models to support SME-led circular economy practices, including reusing and recycling of used equipment in the energy sector, with cross-cutting activities for ensuring sustainability, which includes awareness development, visibility promotion, implementation of gender strategies, project management and monitoring,” she added.

She added that private sector participation is key to the project’s success.

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Adelabu Adebayo, the minister of power, while officially launching the projects, expressed confidence that the projects would not only enhance the management of used off-grid energy equipment and plastics but also increase agricultural productivity and improve livelihoods.

He further inaugurated Project Steering Committees to ensure the success of the projects.