EU Earmarks Funds for Nigeria Energy Sector

The European Union has allocated approximately 2.87 million euros (USD4 million) for the development of Nigeria's energy sector, Vanguard Nigeria reports. The money will finance a project that aims to reduce gas-flaring activities in Nigerian states located near the Niger Delta.

"The objective is to catalyze the development of natural gas and renewable energy markets and sustainable community-based energy facilities within and beyond target communities and target states, through policy reform and by demonstrating that alternative community-based energy facilities can provide sufficient power for meeting rural and urban community needs," the EU said in a statement.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.