UK To Support Nigeria’s Low Carbon Energy Projects With N5.6bn
The United Kingdom has pledged £10m to support off-grid and low carbon energy projects in Nigeria.
UK’s Minister for Africa Vicky Ford announced the pledge on Monday on behalf of the UK government.
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Ford made her first visit in Nigeria since her appointment in the role back in 2021.
During the visit, Ford who advocated for the resolutions passed at the COP26 noted that the aid would support Nigeria’s pursuit to reduce carbon emission.
The minister said, “I am very pleased to announce £10m of UK aid funding today, that is N5.6bn.
“The £10m will be blended to de-risk transactions and therefore mobilize domestic institutional investment from local pension funds, insurance firms and other local institutional investors.
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“This will help scale up domestic financing for eligible off-grid clean energy infrastructures, such as solar mini-grid and home systems, clean cooking infrastructure and SME cold storage infrastructure in Nigeria.
“The UK is committed to increasing both renewable energy and energy access in Nigeria, driving clean, sustainable and resilient growth.”
