Germany to Supply Nigeria, Other African Countries Cheap Electricity From Centre in Cotonou
- Germany has revealed plans to supply Nigeria and other ECOWAS countries with cheap electricity
- The German Vice Chancellor, Olaf Scholz, said this during a meeting with leaders from ECOWAS countries in Abuja
- ECOWAS President revealed that the bloc is working on getting electricity from Germany at a cheaper rate
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The German Vice Chancellor, Olaf Scholz, has revealed that his country is collaborating with the Economic Community of West African States (ECOWAS) to supply cheap electricity to member countries.
Vanguard reports that the German Vice Chancellor spoke at a press conference after meeting with the ECOWAS’ President, Omar Alieu Touray, in Abuja on Sunday, October 29, 2023.
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Germany to provide financial aid to ECOWAS
Olaf revealed that Germany is also partnering with ECOWAS in other areas, including pandemic prevention, security, and coup prevention in the region.
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He added that the European country had boosted its financial support to ECOWAS recently.
The ECOWAS President said that the bloc has received support of 81 million euros from Germany, bringing Germany’s aid to the bloc to about 500 million euros in the past decade.
Touray added that there is a plan to link electricity power production via West Africa from a centre in Cotonou in Benin Republic.
According to Touray, the project would allow West African states to get electricity from a cheaper source, translating to more affordable energy for ECOWAS.
“Those are vital areas, and as I have indicated, they cover areas such as peaceful and inclusive society, climate and energy transition, sustainable economic development, health, societal protection, and population,” Touray said:
Nigeria's electricity export crashes
The development comes amid a report by the Central Bank of Nigeria (CBN) that Nigeria’s electricity export has crashed by $58.1 million in one year.
Analysis from the CBN indicates that the value of Nigeria’s electricity export was N213.66 million in 2021 but declined to $155.56 in 2022, representing a 27% drop in earnings from crude oil exports.
The development also means that Nigeria earned about $369.22 million in two years from electricity exports.
According to the Managing Director of Transmission Company of Nigeria (TCN), Sule Abdulaziz, Nigeria has been exporting electricity, providing an avenue to earn forex for national development.
Ghana is planning to export electricity to Nigeria as national grid collapses twice in 1 week
Legit.ng earlier reported that Ghana is set to export electricity to Nigeria, Africa’s largest economy, to grow its power industry and achieve 100% universal energy access.
The country’s head of the Generation and Transmission Unit at the Ministry of Energy, Hanson Monney, disclosed this during his presentation in Lagos at the Nigeria Energy Leadership Summit.
He stressed that Ghana has achieved an impressive 80% to 85% universal energy access through robust policy formulation and implementation.
Source: Legit.ng
