The Federal Government of Nigeria has signed an agreement with the German government to support the country’s energy transition and climate-friendly development. The agreement includes an initial grant of 20 million Euros, which will be facilitated through the KfW Development Bank and the Africa Enterprise Challenge Fund.

The signing ceremony took place in the office of the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, who represented Nigeria. The project has three primary objectives,to  promote the adoption of renewable energies for energy efficiency, expand vocational training in renewable energy, and support Nigeria’s development agenda.

The Minister emphasized that the project will help expand energy assets to underserved communities, reduce the country’s dependence on fossil fuels, and build a skilled workforce capable of sustaining the energy economy.

 He also noted that the project will empower youths, women, and individuals with new economic opportunities, improving the quality of life for households, businesses, and communities.

The German Embassy’s First Secretary, Dr. Karin Jansen,said  the fund will adopt a competitive approach to finance only the most impactful renewable energy efficiency projects.