Nigeria has attracted $155 million in fresh clean energy investments as the country strengthens its position as one of Africa’s leading renewable energy markets. The new funding is expected to improve electricity access in underserved communities while boosting confidence in Nigeria’s growing off-grid power sector.
The Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, said the investments reflect increasing trust from international investors in Nigeria’s renewable energy industry. According to him, recent reforms in the electricity sector have made the country more attractive for businesses looking to invest in clean and sustainable energy solutions.
Aliyu explained that the latest funding package includes an $80 million debt facility that will support the expansion of off-grid solar home systems and power solutions for homes and businesses across Nigeria. These projects are expected to provide reliable electricity to communities that are not connected to the national grid while reducing dependence on expensive and polluting fuel-powered generators.
In addition, UK-backed clean energy company MOPO has signed a $75 million agreement with the Rural Electrification Agency to introduce a smart battery programme in Nigeria. The initiative will provide households and businesses with improved battery technology, allowing them to store renewable energy more efficiently and enjoy more stable electricity.
Combined, both investments amount to $155 million, making them one of the largest recent funding commitments to Nigeria’s off-grid energy sector.
Aliyu also revealed that another international renewable energy company, WeLight, is preparing to enter the Nigerian market. The company currently operates nearly 190 mini-grid projects across Madagascar and Mali, supplying electricity to more than 800,000 people. Its planned expansion into Nigeria further highlights the country’s growing appeal as a destination for renewable energy investment.
According to the REA boss, these developments show that international investors now see Nigeria as a promising market rather than a risky one.
He noted that Nigeria has become the largest and fastest-growing market for distributed solar energy and small-scale renewable power in Sub-Saharan Africa. This growing reputation is attracting both financial institutions and global clean energy companies seeking long-term investment opportunities.
Beyond attracting capital, Nigeria is also becoming a centre for renewable energy knowledge and collaboration across Africa.
Aliyu disclosed that the Rural Electrification Agency has recently welcomed government and energy sector delegations from Mozambique and the Zanzibar Utilities Regulatory Authority (ZURA) to study Nigeria’s rural electrification programme. Another delegation from Sierra Leone is also expected to visit the country.
During these engagements, Nigeria has been sharing its experience in developing off-grid renewable energy projects, raising investment, managing electricity systems and creating policies that encourage sustainable energy growth.
Aliyu said the exchanges are helping African countries learn from one another instead of working independently. According to him, greater cooperation among African nations will speed up efforts to achieve universal electricity access across the continent.
He added that the growing international interest in Nigeria’s renewable energy programme marks the beginning of a new phase for the sector. With more countries planning to visit and more investors showing interest, Nigeria is strengthening its role as both a clean energy investment destination and a leader in renewable energy development across Africa.
