Sunday, 13 October 2024.
23 C
Calabar

Kano partners Tony Blair Institute to unlock $23.5m investment in energy sector

Kano state government has partnered with Tony Blair Institute (TBI) for Global Change to attract $23.5 million worth of investment and wealth creation in the energy sector.

The investment opportunity being conceptualised under the Governor Initiative to Energise the Economy of Kano State (GEEKS) programme focuses on reforming the energy supply to energise industrialisation and core sectors of the economy in the state.

Receiving the conceptual framework of the GEEKS programme during the 18th Executive Council (ExCo) at the Government House, Governor Abba Kabir Yusuf applauded the team for a well-articulated blueprint to drive the initiative.

A statement by the Governor spokesman, Sanusi Bature Dawakin-Tofa, said the team, composed of representatives of the state government and Tony Blair Institute for Global Change (TBI), earlier took the council on the graphic presentation on the road map engendered to stimulate economic growth.

Country Director of TBI, Joy Dariye, explained the energy sector reform roadmap is driven through key objectives, including strategic planning for State electricity market development and universal access focused on intensifying the use of electricity for commercial and industrial activities.

Victor Adamu, TBI Team Lead Energy & Climate, Nigeria, emphasised the reform also encompasses mapping the State in electricity demand lots based on demography and creating electrification pathways to drive universal access to electricity in a sustainable manner. Furthermore, he mentioned that Kano state will de-risk electrification projects by leading project preparation such that projects are ready for private investment and development.

Besides, the TBI Energy & Climate Lead in Nigeria disclosed that the GEEKS initiative will enable the state to transition its transportation sector from conventional fuels dependent to electric-powered vehicles, starting with the conversion of existing 2-3 wheelers to e-Vehicles. This is expected to be achieved through the set-up of local assembly and manufacturing activities in the State. The 3-wheeler market currently grosses over N1 trillion annually, excluding capital costs. Subsequent phases will integrate e-taxis and buses for mass transit.

He added that the programme will also drive productive use of renewable energy in agriculture and health sectors. This is through the deployment of solar-PV systems with energy storage for hospitals starting with all Primary health care centres, and subsidised solar irrigation pumps, milling machines and cold storage systems for smallholder farmers across the State.

Joy Dariye, the TBI Nigeria Country Director highlighted the economic benefits and employment opportunity engendered in the GREEKS programme. According to her, the GEEKS programme is targeted to attract millions of dollars in investment in the energy sector to energise industrial growth and create over 1 million jobs within 3 years.

“The project will also support the restoration of year-round agricultural production practices, increasing production by 35%. With energised Primary Health Care centres, it is expected that mortality rates will drop significantly,” Dariye added.

Dawakin-Tofa, in the release, said Governor Yusuf is committed to leveraging the symbiotic partnership between the TBI and the Kano state government to build growth and development in Kano.

“The administration of Governor Abba Yusuf will lean on internal state resources with support from development partners in the form of concessional financing and technical assistance to catalyse robust private sector investments, the statement reads.”

The initiative is being facilitated by the Senior Special Assistant to the Governor on Renewable Energy Engr. Abduljabbar Muhammad Nanono.

Get Faster News Update By Joining Our: WhatsApp Channel

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without written permission from CONVERSEER. Read our Terms Of Use.

Related News

Popular Categories