The President of African Development Bank (AfDB) Dr. Akinwunmi Adesina, has announced that the bank is set to undertake its ‘Desert to Power’ initiative in Nigeria to meet up the challenge of power failure, noting that the initiative has already commenced in Morocco and Kenya. Investment newsletter from Nigerian Investment Promotion Commission, NIPC, quoting AfricaOilandPower, revealed.
The Desert to Power project is aimed at constructing the world’s largest solar power zone that would supply 10,000 MW of solar power in African countries. AFDB boss was quoted, “Renewable energy is the future, Africans must tap into renewable energy, Solar in particular. It would be a big disservice to Africans if the power of the sun were not converted energy having identified that about 600 million people in Africa have no access to electricity,
Adesina who made this known within the week at the African Investment Conference organized by the UK’s Department of International Trade, said the conference was designed to facilitate further investment relations between Africa and the United Kingdom.
The statement revealed that, Adesina told the Trade Commissioner for Africa, Emma Wade-Smith, that he was optimistic in the investment environment in Africa, asserting that Africa is a continent where investment is feasible. He noted that healthcare investment in the region is equally important too.
“While economic investments in the continent are pivotal, there is need to invest meaningfully in the youths. Investing in young people will in no small measure help them to effectively develop their business ideas and their other potentialities,” he stressed.
