The African Development Bank (AFDB) has disbursed $500 million (₦766.7 billion) to support Nigeria’s power sector under its $1 billion Economic Governance and Energy Transition Support Programme.
AFDB’s Nigeria Country Director, Dr. Abdul Kamara, revealed this at the launch of a feasibility study for Battery Energy Storage Systems (BESS), organised by the Transmission Company of Nigeria (TCN), saying it will back the next phase of electricity reforms aimed at delivering reliable power to millions without access.
Kamara noted that while Africa has 60% of the world’s solar potential, it holds just 2% of storage capacity—an urgent gap and opportunity. He cited South Africa and Kenya as models Nigeria can now follow, supported by a $1 million grant from AFDB to help implement the Electricity Act and build state-level power markets.
TCN MD, Engr. Dr. Sule Abdulaziz, called the BESS study timely, saying it would address technical and operational needs for implementation.
