Nigeria unveils $300m fund for off-grid power

The Federal Government of Nigeria, in collaboration with its development partners, has launched a $300 million investment fund aimed at expanding off-grid electricity and distributed renewable energy projects across the country. The Nigeria Distributed Renewable Energy Fund, jointly managed by the Nigeria Sovereign Investment Authority (NSIA) and Africa50, is expected to mobilise public and private capital for mini-grids, standalone solar systems, and other decentralised electricity projects.

This move comes amid Nigeria's persistent electricity supply deficit, which has forced millions of households and businesses to rely on alternative power sources like generators. The fund aligns with Nigeria's energy-access objectives and Mission 300, an initiative seeking to provide electricity access to 300 million people across Africa by 2030.

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