The World Bank has reaffirmed its commitment to advancing gas development and strengthening energy infrastructure across Africa, with a strong focus on regional cooperation, private sector participation, and sustainable access to electricity.
Speaking at the Decade of Gas Ministerial Roundtable and Workshop in Abuja, the World Bank Country Director for Nigeria, Mathew Verghis, highlighted the institution’s strategic priorities and opportunities for collaboration across the continent. He was represented by Justin Beleoken.
Verghis explained that the World Bank Group operates through five key institutions that collectively support governments and private sector growth. He noted that beyond financing, the Bank plays a crucial role in policy advisory, infrastructure development, and investment facilitation.
He emphasised that the International Finance Corporation supports private sector development by financing businesses and attracting investment, while the Multilateral Investment Guarantee Agency helps reduce risks for investors by providing guarantees for projects.
According to him, the Bank’s engagement in Africa’s gas sector has evolved, but it continues to prioritise gas-to-power initiatives as a key driver of energy access and economic growth.
He outlined five core pillars guiding the Bank’s energy strategy, including expanding access to affordable and renewable electricity and implementing large-scale programmes such as Mission 300. The initiative aims to connect 300 million people in Sub-Saharan Africa to electricity.
Other priorities include fostering economic growth, creating jobs, promoting regional integration through cross-border energy projects, and mobilising private capital to support infrastructure development.
ALSO READ: https://caliphatebroadcast.com/2027-adc-targets-14-million-registered-members-aregbesola/
Highlighting its track record, Verghis said the Bank has supported multiple energy and gas projects across Africa. In Nigeria, it is actively involved in electricity and gas improvement programmes, while in Ghana it supports offshore gas supply and domestic power generation.
He also referenced ongoing investments in cross-border pipeline infrastructure and emerging projects in countries such as Senegal, Mauritania, and Mozambique.
Verghis noted that the World Bank’s extensive experience positions it to deepen partnerships and help African nations effectively harness their gas resources for sustainable development.
