World Bank Grants Approval for $750 Million DARES Clean Energy Project in Nigeria to Boost Electricity Access

Affordable Data Plans for MTN, Airtel, Glo, and 9mobile at allmedia24data.com

In a significant move towards enhancing energy access in Nigeria, the World Bank has given the green light to the $750 million Distributed Access through Renewable Energy Scale-up (DARES) project. The project, as disclosed in a recent press release on Nairametrics, involves a $750 million credit from the International Development Association (IDA) and aims to leverage over $1 billion from private investors and various partners.

The DARES initiative, backed by contributions such as $100 million from the Global Energy Alliance for People and Planet and $200 million from the Japan International Cooperation Agency (JICA), is a collaborative effort involving entities like the United States Agency for International Development (USAID), the German Development Agency (GIZ), Sustainable Energy for All (SEforAll), and the African Development Bank (AfDB).

Buy Cheapest Data Price
Our Data Prices On JMData:
- MTN SME 1: N255 per 1GB
- MTN SME 2: N259 per 1GB
- Airtel CG: N278 per 1GB
- Glo CG: N230 per 1GB
- 9mobile: N125 per 1GB
Download Our Mobile APP to get started: [JMData] https://play.google.com/store/apps/details?id=com.encrypted.jmdata

HAVE YOU APPLY FOR NIGERIAN CUSTOMS SERVICE RECRUITMENT? GET NIGERIAN CUSTOMS PASS QUESTIONS AND ANSWER PDF FILE BELOW 👇👇👇👇

DOWNLOAD NIGERIAN CUSTOMS RECRUITMENT APTITUDE TEST 2025 PDF

The overarching objective of the DARES project is to provide improved access to electricity for over 17.5 million Nigerians through distributed renewable energy solutions, addressing the existing electricity access deficit. As of 2021, more than 85 million Nigerians lacked reliable electricity, leading to a widespread reliance on expensive and environmentally harmful petrol and diesel generators due to the unreliable national grid supply.

Building upon the successes of the World Bank-financed Nigeria Electrification Project (NEP), which established 125 mini-grids and distributed over a million solar home systems (SHS), benefiting 5.5 million Nigerians and creating over 5,000 local green jobs, the DARES program will support the Federal Government of Nigeria in coordinating and financing off-grid electrification efforts.

The initiative will also assist states in developing capacity and policies to promote rooftop solar energy. A key focus of DARES is inclusivity, particularly empowering female-headed households and women-led businesses by facilitating easier access to electricity and increasing women’s employment in the energy sector.

Shubham Chaudhuri, the World Bank Country Director for Nigeria, emphasized the project’s aim to replace nearly 280,000 polluting and expensive generator sets, making a significant contribution to Nigeria’s energy transition objectives. Adebayo Adelabu, Nigeria’s Minister of Power, highlighted the project’s potential to extend clean and fair energy access to currently unserved or underserved communities, promoting empowerment and transformation.

Source: Nairametrics

MIDAS YIELDER GOT OVER $10 MILLION INVESTMENT DON'T MISS IT OUT

JOIN NOW

https://t.me/MidasRWA_bot/app?startapp=ref_5672ba1f-2b27-4c00-884d-27c057e065ac

Google News Channel

Join Our WhatsApp, Facebook, or Telegram Group For More News, Click This Link Below;

WhatsApp Channel

https://whatsapp.com/channel/0029VaELqhlHVvTXjDnUf80h

WhatsApp Group

https://chat.whatsapp.com/ICf5K97TqHpHYvwK9Znt3S

Facebook Page

https://facebook.com/allmedia24news

Our Twitter Page

https://www.twitter.com/mubcrypto
Telegram Group