The Federal Government of Nigeria revealed on Sunday that it has successfully attracted over $2 billion in investments in the renewable energy sector over the past decade. This announcement came from the Rural Electrification Agency (REA), which highlighted key partnerships with international organizations and agencies in advancing these achievements.
According to Mutari Ibrahim, the Director of Promotion and Outreach, the REA has collaborated with influential entities such as the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency. Other notable partners include Sustainable Energy for All, the Agence Française de Développement, the United Kingdom Nigeria Infrastructure Advisory Facility, the European Union, the United Nations Industrial Development Organization, the Global Environment Facility, and the United States Agency for International Development.
Ibrahim stated in a press release in Abuja, “From 2020 to date, REA has provided power to over 7.5 million people, including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems. The agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.”
The REA completed 1,403 projects under the capital budget, encompassing solar street lights, mini-grid projects, standalone home systems, and grid extension works. Through various programs, such as the Energizing Education Programme, Energizing Agriculture Programme, Beyond COVID-19, and Economic Clusters, the REA delivered over 65 megawatts of power across Nigeria’s six geo-political zones.
The agency highlighted its significant contribution to job creation, electrifying numerous communities, and attracting investments in the renewable energy sector, amounting to over $2 billion in the past decade.
As part of the National Poverty Reduction and Growth Strategy program in 2022, the REA secured an additional N4 billion in capital injection grants. These grants are intended to provide clean-power standalone home systems to over 50,000 locations, including rural homes, microbusinesses, schools, and faith-based institutions.
In response to the removal of subsidies, the REA is implementing interventions to develop electric mobility, mini-grids, distribute home systems, and deploy streetlights. These initiatives have the potential to support up to 250,000 households in the coming year. The agency also highlighted its recent success in negotiating and securing advance approval of a $750 million facility with the World Bank to expand renewable and rural electrification initiatives, providing additional resources to Nigeria during challenging times.
