President Bola Ahmed Tinubu has unveiled Mission 300, a major energy reform initiative aimed at attracting $15.5 billion in private sector investment to accelerate electricity access and modernize Nigeria’s power sector. The initiative forms part of a broader $23.2 billion National Energy Compact.
The announcement was made by the Minister of Power Adebayo Adelabu during the Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania. According to him, the compact is designed to:
- Double electricity access growth from 4% to 9% annually
- Increase clean cooking access by 25% each year
- Raise the share of renewable energy in the national energy mix from 22% to 50%
- Expand last-mile electrification to rural and underserved communities
Minister Adelabu stressed that the compact will be driven primarily by the private sector, with the Federal Government ensuring an enabling environment through policy stability, regulatory clarity, and targeted incentives.
He also revealed that President Tinubu has approved a plan to add 4,000 megawatts to the national grid by 2026. This will be achieved through the engagement of qualified Engineering, Procurement, and Construction (EPC) contractors to deliver new power generation and transmission infrastructure.
However, Adelabu warned that persistent vandalism of energy infrastructure such as attacks on transmission lines and gas pipelines continues to pose a major threat to power sector investments. He assured that the government is strengthening asset protection measures through surveillance technology, legal enforcement, and coordinated security responses.
Mission 300 aligns with a broader continental goal supported by the African Union, World Bank, and African Development Bank to provide electricity access to 300 million Africans by 2030, with Nigeria expected to play a leading role.
President Tinubu’s Mission 300 marks a bold and strategic step toward transforming Nigeria’s energy future anchored on private investment, renewable energy growth, infrastructure expansion, and a firm commitment to delivering reliable and affordable power to millions of Nigerians.
