Funding the Renewable Energy Sector to Close Nigeria’s Electricity Gap

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Energy access is part of sustainable development. Closing the energy access gap in line with the sustainable development goal (SDG) 7 will ensure that everyone has access to affordable, clean, reliable energy. According to the World Bank in  2021, 85 million Nigerians do not have access to grid electricity. The majority of this population is largely based in rural and pre-urban communities.

With Nigeria’s national grid power generation predominantly being hydro stations powered by gas,and a current grid generation capacity of about 4,500 megawatts (as against an installed capacity of 12,000 megawatts), only 57 per cent of Nigeria’s over 200 million populationhas access to electricity. 

Recently, the Federal Government called for more private sector funding to close an energy gap of $2.48 billion meant for 80 million Nigerians to have access to electricity.

As funding remains a critical challenge to the power sector over the years, there is need for more collaboration and intense efforts among the relevant stakeholders and financial institutions to ensure at least 70 – 80 per cent of the Nigerian populationhas access to electricity, while harnessing the untapped renewable energy potentials to complement the grid supply,  to reduce energy poverty;  promote businesses, breed diverse economic catalysts, empowerment and employment opportunities.

All On, a Shell-funded organization, has been a key player in the RE sector by providing financial and technical support in renewable development. One of the top beneficiaries is the Renewable Energy Association of Nigeria (REAN) which serves as an umbrella association for Renewable energy experts and professionalsin Nigeria.  All On’s support has enabled REAN to establish a physical secretariat rightwithin the Central Business District of the nation’s capital, Abuja.

The funding has also supported REAN to push and access the right level of engagement for her activities and programmes whichwill engineer the necessary change in the renewable energy sector of Nigeria. Furthermore, the association has refined its commitment towards supporting the Federal Government energy transition mission by 40% before 2030.

As All On’s, more funding support in the renewable energy sector can create a huge turning point inelectricity challenges; by increasing  access to electricity for millions of homes and communities, and expanding the current Nigerian electricity capacity through the deploying off-grid solutions such as solar, biomas, and wind energy.

– Godwin Jimoh
Renewable Energy Association of Nigeria (REAN)

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