Nigeria Secures $750m for Renewable Energy Market Expansion

Taiwo Ajayi
2 Min Read
Nigeria Secures $750m for Renewable Energy Market Expansion

The federal government has announced the acquisition of $750 million in renewable energy funding from international development organizations, aimed at expanding market access and strengthening Nigeria’s energy landscape.

The Managing Director of the Nigerian Electricity Management Services Agency (NEMSA) and Chief Electrical Inspector of the Federation, Engr. Aliyu T. Tukur, disclosed this during a one-day stakeholders’ sensitization workshop held in Abuja. The event, themed “Strengthening and Safeguarding Nigeria’s Renewable Energy Landscape: Solar Mini-Grid Components/Materials, Equipment, and Best Installation Practices,” was supported by the European Union and the German Government through the Nigerian Energy Support Programme (NESP).

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Engr. Tukur highlighted the importance of international financing initiatives, such as the World Bank-funded Distributed Access through Renewable Energy Scale-Up (DARES) program and contributions from the EU and German Government, in driving Nigeria’s renewable energy goals.

“With the market rapidly expanding and additional funding anticipated, we are committed to safeguarding the solar mini-grid sector. We call on funders, developers, and manufacturers to partner with NEMSA from the onset of their projects to ensure efficient inspections and certifications, accelerating deployment and commissioning timelines,” he stated.

Speaking at the event, Godfrey Egbemudia, Head of Section for Green and Digital Economy at the European Union Delegation to Nigeria and ECOWAS, reaffirmed the EU’s commitment to promoting sustainable energy. He commended NEMSA for ensuring the safety and reliability of solar mini-grid systems and emphasized the EU’s support for regulatory improvements and market scalability.

“The EU remains committed to supporting agencies like NEMSA in enhancing the regulatory environment while ensuring the sustainability and growth of Nigeria’s renewable energy sector,” Egbemudia said.

The workshop served as a platform for stakeholders to discuss strategies for addressing challenges in renewable energy deployment, promoting best practices, and ensuring the safety and efficiency of installations across the country.

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