The European Union (EU) is allocating £32 million euros to support the energy sector in Nigeria and neighboring West African countries.
The funding allocated is part of the AGoSE-AO program, which has the objective of enhancing governance in the energy sector in West Africa. The program is being implemented from May 2022 to April 2024 and is commissioned through the 11th European Development Fund.
The AGoSE-AO program is a collaborative effort between the Economic Community of West African States (ECOWAS), the West African Economic and Monetary Union (WAEMU), and the European Union. Its primary aim is to strengthen the effectiveness of the energy architecture and regional institutions in West Africa in addressing global challenges.
In pursuit of this goal, representatives from ECOWAS, the EU, and other development partners came together in Abuja to discuss strategies for boosting the energy sector in Nigeria and other countries within the West African sub-region. The event, organized jointly by ECOWAS and WAEMU, saw the participation of specialized agencies responsible for energy, including the ECOWAS Center for Renewable Energy and Energy Efficiency (ECREEE), the West African Power Pool (WAPP), and the ECOWAS Regional Electricity Regulatory Authority (ERERA).
Representatives from the European Union Delegations to Nigeria, Benin, and Burkina Faso, as well as the German Agency for International Cooperation (GIZ), Energy Charter, British Council, and NTU International A/S, also took part in the event.
Anastasia Oikonomou, the representative of the European Union Delegation to Nigeria and the ECOWAS Commission, highlighted that the AGoSE-AO program aims to strengthen the energy architecture and regional institutions in West Africa to effectively tackle global challenges. She emphasized the importance of improving governance, transparency, and accountability in the energy sector to promote sustainable development and alleviate poverty in the region.
Bayaornibe Dabire, the Director of Energy and Mines of ECOWAS and chairman of the meeting, urged all stakeholders in the energy sector to collaborate in enhancing governance and transparency. He stressed the necessity of a harmonized regulatory and legal framework in the region to establish a secure, transparent, stable, and vibrant energy market. This would, in turn, attract investors and facilitate access to modern, affordable, reliable, and sustainable energy services.
Emmanuel W. Ramde, the Team Leader of the AGoSE AO program, emphasized the importance of access to modern, affordable, reliable, and sustainable energy services for poverty alleviation. One of the program’s key components focuses on harmonizing the regulatory and legal framework in the region to create an enabling environment for investment and improved energy services.
Overall, the AGoSE-AO program, funded by the EU, aims to strengthen governance and regulatory frameworks in the energy sector of West Africa, promote sustainable development, and enhance access to modern energy services in the region.