Edun Pushes Energy Investment to Power Economic Growth

Edun Pushes Energy Investment to Power Economic Growth

JOEL OLADELE, Abuja

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has intensified Nigeria’s drive to expand electricity access as a core pillar of economic growth, leading high-level talks this week with global energy and finance partners in Abuja.

The engagements focused on accelerating delivery and mobilising large-scale investment to strengthen Nigeria’s power sector under Mission 300, a continental initiative aimed at expanding electricity access and boosting economic productivity across Africa.

Edun said reliable electricity remains critical to Nigeria’s economic transformation, stressing that power supply underpins industrial growth, digital inclusion, job creation and improved living standards.

He reaffirmed that Mission 300 occupies a central place in the country’s economic strategy, noting Nigeria’s early adoption of the Compact and the establishment of a joint Finance and Power delivery unit to fast-track implementation.

The minister also pointed to growing momentum in distributed renewable energy, supported by innovative financing models and stronger private sector participation.

Nigeria’s reform efforts received international backing during the meetings, with the Managing Director of Operations at the World Bank Group, Anna Bjerde, describing the country as a potential game changer for Mission 300 due to its scale and leadership role on the continent.

She noted that existing programmes are already expanding electricity access and positioning Nigeria for wider impact.

Also speaking, the Minister of Power, Adebayo Adelabu, said ongoing initiatives in the sector align with President Bola Ahmed Tinubu’s economic mandate. He highlighted progress in power sector reforms, metering, transmission restructuring and regional power integration as key steps toward a more reliable and efficient electricity system.

The parties agreed on the need to speed up implementation, attract capital at scale and ensure that Mission 300 delivers measurable economic benefits for Nigerians, as the country positions energy access as a catalyst for sustainable growth.