James Sowole in Abeokuta

The federal government has committed N450 billion to advancing renewable energy and reducing poverty, the Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Yilwatda, has said.

Speaking at the national budget roundtable and panel discussion at Covenant University, Ota, Ogun State, Yilwatda disclosed that the government was investing in renewable energy to lift more Nigerians out of poverty.

The event was organised by the Centre for Economic Policy and Development Research (CEPDeR) of Covenant University in collaboration with the University of Warwick.

It had as its theme: ‘National budgeting as a critical tool for reducing poverty and inequalities in the era of energy transitions.’
Citing the 2022 National Multidimensional Poverty Index (MPI), the minister said 63 per cent of Nigerians — about 133 million people — are living in multidimensional poverty, with 42 per cent in extreme poverty and 40 per cent lacking access to electricity.

“About 85 million Nigerians don’t have access to electricity. This number mirrors those living in extreme poverty,” he said.

“Energy poverty limits business growth affects education and healthcare, and deepens inequality,” the minister added.

 Of the N450 billion budgeted, the minister stated that N200 billion was allocated to renewable energy infrastructure.

He said another  N150 billion will be used to support the development of solar, wind, hydro, and coal-based energy systems while targeting access for five million households by the end of 2025.

 “Five million households will gain access to power under this plan, and we are setting aside N150 billion specifically to ensure electricity access for these homes,” he said.

The minister further added that N100 billion was allocated to train 250,000 Nigerians in renewable energy technologies to drive the green economy and create sustainable jobs.

These roles will span sectors such as solar, wind, hydro, and thermal energy, he said.

“This transition isn’t just about energy — it’s about jobs, education, and economic inclusion,” he noted. “We’re creating new smart and green jobs to reach underserved communities,” he added.

Yilwatda also referenced the federal government’s existing poverty reduction initiatives, including the conditional cash transfer scheme targeting 15 million households.  

According to him, over five million Nigerians are already benefitting, with recipients identified through the national social register and digital ID verification systems.

He further revealed plans to create two million additional jobs by skilling and upskilling unemployed and underemployed Nigerians and linking them to private sector opportunities.

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