In a move aimed at boosting power supply across the country, the Nigeria Sovereign Investment Authority (NSIA), Africa50 and the global energy‑access organisation SEforALL have jointly launched a $300 million fund to expand access to reliable energy in Nigeria.
The fund will focus on distributed energy projects – small‑scale solar, mini‑grids and other off‑grid solutions that can bring electricity to communities that remain disconnected from the national grid.
NSIA, Africa50 and SEforALL are the three partners behind the initiative. The collaboration brings together the sovereign wealth arm of the Nigerian government, a pan‑African investment platform and an international organisation that works to accelerate universal energy access.
With a population of more than 200 million people, Nigeria is the most populous country in Africa and one of the world’s largest economies. Yet the country still struggles to provide a reliable power supply to many of its citizens, making projects such as this fund a key part of the country’s development strategy.
While the announcement did not detail the exact projects that will receive funding, the $300 million pool is expected to support a range of distributed energy initiatives across the country, helping to bring electricity to underserved regions and improve the resilience of Nigeria’s power system.
<small>Source: Punch Nigeria — read the original story there.</small>