The EU Head of Mission to Nigeria, Samuela Isopi, said this when she visited the Minister of Power, Adebayo Adelabu, on Friday in Abuja.
She was accompanied by the new head of cooperation of the EU, Luca Massimo, and Godfrey Ogbemudia, programme manager on energy.
Ms Isopi said the money was apart from the about €200 million grants invested in the sector since 2008.
Speaking on the EU’s various intervention programmes in the power sector, the envoy said the current support would cover small hydro-power and solar for healthcare facilities.
Other areas to be covered in the current intervention are rural electrification with isolated and interconnected mini-grid projects and a circular economy.
According to her, the projects will commence soon.
Ms Isopi also used the opportunity to invite the minister to an upcoming inauguration of two projects funded by the EU and implemented by the United Nations Industrial Development Organisation(UNIDO).
Responding, the minister, who received the ambassador in the company of his chief technical advisor, Adedayo Olowoniyi, expressed appreciation to the EU for the support it has been giving to the sector.
Mr Adelabu said more support was needed to address the enormous challenges in the sector.
He said the issue of liquidity was the main problem the government was trying to resolve.
The minister said the market would only be sustainable and run efficiently when a cost-reflective tariff is in place.
According to him, he was pleased with the EU programmes for the sector and confirmed their alignment with the ministry’s strategy.
The minister promised to work with the EU on its programmes, especially small hydro and state electrification projects within the new Electricity Act.
(NAN)