Nigeria Drives "Mission 300" Energy Initiative, Eyes $15.5 Billion Private Investment
Nigeria is at the forefront of a significant continent-wide push to expand energy access, with a high-level Stakeholder Engagement Forum held on July 8, 2025, to galvanize support for its "Mission 300" goals. This ambitious initiative, championed by the World Bank Group and the African Development Bank, aims to connect 300 million people across Africa to electricity by 2030. Nigeria is one of twelve pioneering countries in the first phase of its implementation.
The government-led forum, organized by the Federal Ministry of Power and the Federal Ministry of Finance in collaboration with Sustainable Energy for All (SEforALL), served as a critical platform to align priorities and forge partnerships. Nigeria's Minister of Power, Chief Adebayo Adelabu, disclosed that out of the total $32.8 billion required to achieve Nigeria's Mission 300 Compact, a substantial $15.5 billion is targeted from the private sector.
Nigeria's National Energy Compact outlines clear, investable targets to drive this transformation. These include doubling the annual electricity access growth rate from 4% to 9% and significantly increasing access to clean cooking solutions from 22% to 25% per year. These targets underscore Nigeria's commitment to achieving universal energy access by 2030 and fostering a predictable, results-driven environment for energy investments.
The forum focused on strategic pillars designed to unlock investment and drive market transformation. These include:
Infrastructure Rehabilitation and Expansion: Creating a bankable pipeline of grid and off-grid projects through least-cost planning and technical capacity building.
Last-Mile Access: Opening new markets by extending electrification to underserved communities.
Affordable Generation: Promoting competitive tendering and integrating renewable energy sources.
Regional Energy Integration: Leveraging benefits from interconnected power systems.
Utility Performance Improvement: Strengthening the viability and efficiency of distribution companies through programs like the Presidential Metering Initiative.
To propel coordinated action, a high-level Compact Delivery and Monitoring Unit has been established to oversee and coordinate the delivery of Mission 300 targets. The initiative recognizes that without substantial private sector involvement, achieving these ambitious goals will be challenging. Minister Adelabu highlighted government efforts to address existing obligations and transition the sector to a fully cost-reflective regime, alongside implementing targeted subsidies for vulnerable populations, to create a more attractive investment climate.
The Mission 300 initiative is seen not just as an electrification project but as a crucial driver for economic development, job creation, and improved social services across Africa. It seeks to tackle energy poverty head-on, leveraging global partnerships to bring reliable, affordable, and sustainable electricity to millions.
