The Digest:
Three Northwestern states - Kano, Katsina, and Jigawa- are finalizing plans to establish a regional electricity market and raise a N50 billion fund to accelerate power access for millions of residents. The agreement, reached at a high-level summit in Marrakech, Morocco, also includes plans to acquire equity stakes in the Kano Electricity Distribution Company (KEDCO) to improve service delivery across the region.
Key Points:
- Kano, Katsina, and Jigawa states plan a N50 billion regional electricity market.
- The states will acquire equity stakes in KEDCO's core investor, Future Energies Africa.
- The agreement was finalized at an electrification summit in Marrakech, Morocco.
- The initiative will expand embedded generation, solar systems, and mini-grids.
- States will collaborate to reduce residential electricity losses and improve supply.
- Annual international retreats and quarterly reviews will be used to track progress.
- The move follows the 2023 constitutional amendment allowing state-level power operations.
Sources: Premium Times
