The African Development Bank (AfDB) has released $500 million (₦766.7 billion) to Nigeria to support vital power sector reforms under its $1 billion Economic Governance and Energy Transition Support Programme.
Speaking during a workshop on the Nigerian Battery Energy Storage Systems (BESS) feasibility study, AfDB’s Director General for Nigeria, Dr. Abdul Kamara, said the initiative aims to strengthen electricity access and reliability nationwide. “The second phase is on track and is part of our commitment to ensure electricity is accessible to every community in the country,” Kamara stated.
He added that the BESS project, organized by the Transmission Company of Nigeria (TCN), targets about 90 million Nigerians without electricity. Kamara noted Africa holds 60% of the world’s best solar resources but just 2% of global storage capacity, stressing battery storage as key to unlocking renewable energy.
TCN MD, Dr. Sule Ahmed Abdulaziz, described the feasibility study as a chance to assess Nigeria’s readiness and build a comprehensive framework for future energy systems.