Nigerian Petroleum Resources Minister Dieziani Alison-Madueke has put the figure Africa needs to bridge its power-supply deficit annually at $40 billion.

Speaking at the World Economic Forum on Africa today, the Minister said there is a $30 billion funding gap that governments can fill by making the oil and gas projects more “bankable” and ensuring “securitization” for private equity.

She also said access to low-cost is “critical” to bridging the gap.

The World Economic Forum on Africa is presently being held at Addis Ababa, Ethiopia.