FG Seeks Foreign Funding to Solve Nigeria’s Power Challenges
Emmanuel Addeh in Abuja
Minister of Power, Chief Adebayo Adelabu, has called on global leaders to help Nigeria bridge the gap between energy transition and developmental finance by ensuring that justice and inclusion remain central to global efforts.
The minister made the call while representing Nigeria at the 2025 Sustainable Energy for All (SEforALL) Global Forum which took place in Barbados.
The forum, co-hosted by SEforALL and the Government of Barbados under the theme: “Sustainable Energy for Equity, Security and Prosperity,” brought together global leaders to catalyse action and investment toward achieving universal energy access, climate goals, and sustainable development.
Delivering his keynote address at the Global Ministerial Roundtable, the minister reiterated the urgent need to bridge the gap between energy transition and developmental finance by ensuring that justice and inclusion remain central to global efforts.
A statement by his spokesman, Bolaji Tunji, quoted the minister as highlighting Africa’s minimal contribution to global emission which is less than 4 per cent, while bearing the brunt of climate change impacts and energy poverty.
He stressed the importance of recognising the different starting points of developed and developing nations, advocating for a pragmatic energy transition plan that allows Africa to balance energy access, industrialisation, and economic growth.
“Africa cannot be forced to choose between development and decarbonisation. Transition fuels like natural gas, which Nigeria has in abundance, must be recognised as a critical bridge to a cleaner energy future,” he stated.
With over 600 million Africans still lacking access to electricity, Adelabu underscored the urgency of prioritising universal energy access alongside decarbonisation efforts.
He warned that without electricity, populations would continue to rely on harmful alternatives such as fossil fuel generators and deforestation, exacerbating environmental degradation and healthcare challenges.
“Energy transition strategies must be people-centred, ensuring that rural communities and marginalised groups are not left behind. This requires financing mechanisms that support both grid expansion and decentralised renewable energy solutions,” he said.
He called for a radical overhaul of the current financing structures, which he described as inadequate in addressing the needs of developing nations and emphasised that high borrowing costs, restrictive funding conditions, and slow disbursement processes are significant barriers to progress.
“There is an urgent need for concessional financing, risk guarantees, and innovative instruments to attract private sector investments in clean energy. Developed countries must fulfil their climate finance commitments and mobilise funds for adaptation and resilience,” he stated.
