NIGERIA - Economic Governance and Energy Transition Support Programme - Phase II (EGET-SP II) (AFDB-P-NG-K00-013)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 23, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Nigeria - Ministry of Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 489.29 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 489.29 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ AFDB website

Updated in EWS Aug 10, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed operation is a loan of US$ 500 Million to the Federal Republic of Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme (EGET-SP Phase II). The EGET-SP was designed as a programmatic series of two consecutive General Budget Support Operations covering the fiscal years 2024 and 2025. Phase I of EGET-SP was approved by the Bank’s Board of Directors on the 19th of July 2024, and the resources (US$ 500 millions) were fully disbursed in September 2024.

The objective of Phase II is to sustain the reform momentum achieved in Phase I and unlock growth for households and firms by addressing major infrastructure gaps such as access to electricity. Furthermore, with improved fiscal space, there is a unique opportunity to improve the quality of spending to invest in infrastructure, social protection and human capital development.

EGET-SP II’s package of reforms is organized around three complementary and mutually reinforcing components, namely: (i) Strengthening Economic and Financial Governance; (ii) Accelerating Power Sector Reforms; and (iii) Supporting implementation of the Energy Transition Plan while pursuing climate change initiatives.

The goal of EGET-SP II is to stimulate inclusive growth by accelerating structural reforms in the energy sector while advancing progressive tax policy reforms to improve non-oil revenues and expand the fiscal space. EGET-SP II will consolidate and leverage on the achievements of EGET-SP I. Consistent with this goal, EGET-SP II will: (i) Deepen tax policy reforms on strengthening PFM systems while improving transparency and efficiency in public expenditures (ii) Accelerate power sector reforms to reduce energy poverty, improve energy access, strengthen power sector governance and attract private sector investments and (iii) support implementation of the energy transition plan through climate mitigation and adaptation initiatives, and adopt energy efficiency standards for electrical appliances while updating the NDC’s 2026-2030.

The program’s direct beneficiaries are the Federal Ministry of Energy, the Federal Ministry of Finance, Federal Inland Revenue Service, Office of the Accountant General, Debt Management Office, Office of the Auditor General, Office of the Accountant General of the Federation, Nigeria Climate Change Council (NCCC), Federal Ministry of the Environment, Nigerian Electricity Regulatory Commission (NERC) and other agencies responsible for social and economic policies.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environmental Category: [3] Low Risk

The proposed Programme is designed to focus solely on policies without any physical actions that can result in environmental consequences, hence the categorization as ‘low risk program”. This categorization is justified by the design of the program, which focuses on policy reform measures with no physical or investment activities.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Financial Instrument: Structural Adjustment
Commitments (UA): 363,697,200
Conversion Rate USD (2025-12-21): 1,34533
Commitments (USD): 489,292,754.10

Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Name: Ibrahim Ansu BANGURA
Email: i.bangura@afdb.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process.

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/

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How it works