$750 Million World Bank Loan To Support Nigeria’s Solar Mini-Grids, Rooftop Systems

By JOANNA ILUSANMI

THE Federal Government plans to expand access to renewable energy through a $750 million concessional loan from the World Bank. The funding will support Nigeria’s Distributed Access through Renewable Energy Scale-up (DARES) project.

Dr. Sunny Akpoyibo, President of the Solar Energy Society of Nigeria (SESN), disclosed this during an interview with journalists. He explained that the funds, currently domiciled in the Rural Electrification Agency (REA), would support private developers of solar mini-grids and rooftop systems.

Under the arrangement, the project will provide minimum capital cost subsidies and performance-based grants. These interventions are designed to reduce investment barriers and encourage private companies to expand clean-energy access.

According to Akpoyibo, the funding will also help investors manage financial risks. In particular, the project will prioritise affordable electricity for productive activities, especially in agriculture and education.

Meanwhile, the Solar Energy Society of Nigeria continues to advocate for policies and investments that can accelerate the country’s renewable-energy transition. Founded in the early 1980s, the organisation promotes research, advances renewable-energy technology and engages governments, developers and development partners.

Additionally, the society works to address financing gaps that limit the growth of the sector. Its latest national conference in Abuja is expected to strengthen these efforts by bringing together manufacturers, climate-finance experts, women and young people.

The 43rd National Solar Energy Conference will focus on the theme, “Bridging Nigeria’s Solar Energy Gap: Accelerating Solar Energy Adoption for Sustainable Development.” Participants are expected to exchange knowledge, discuss emerging technologies and examine ways to improve the quality of solar equipment entering the Nigerian market.

Akpoyibo stressed that equipment standards would be an important part of the discussions. By improving technical knowledge and product verification, the sector could better distinguish genuine equipment from counterfeit products and strengthen consumer confidence.

Furthermore, the conference will prioritise capacity building, which Akpoyibo described as essential for accessing available grants. He noted that young entrepreneurs often struggle to secure funding because they lack the collateral demanded by conventional lenders.

To address that challenge, the society plans to connect eligible young innovators with investors who can finance their initiatives. Such partnerships could help promising renewable-energy businesses move from ideas to implementation.

Beyond the funding discussions, the conference will recognise Nigerians who have contributed to renewable-energy development. Among those expected to receive the Fellowship of the Solar Energy Society of Nigeria are former First Lady Maryam Abacha, the Emir of Giade, HRM Mohammed Sabo Abdulkadir, and the Olu of Warri, HRM Ogiame Atuwatse III.

Other nominees include Professor Omonigho Otanocha, engineer Kelly Ochuko Egode and Reverend Mrs. Joan Agboro-Scheil.

Agboro-Scheil, Founder and President of the Germany-based Helping Hand for Africa (HH4A), said her organisation focuses on girl-child advocacy and improving the welfare of disadvantaged people. She maintained that everyone deserves the opportunity to live a decent life, regardless of their circumstances.

Through its humanitarian programmes, HH4A has supported indigent families in at least five local government areas of Delta State and other parts of Nigeria. The organisation also promotes sustainable development and community welfare.

Agboro-Scheil expressed appreciation for the recognition, noting that the fellowship would add to the acknowledgements she had received for her social contributions. She also thanked the society for selecting her for the honour.

Meanwhile, another fellowship nominee, engineer Kelly Ochuko Egode, is pursuing the development of technology intended to improve agricultural sustainability. Egode, founder of United Kingdom-based agricultural technology company OMFEONIX AGRITECH Limited, said the company was developing an intelligent control system known as AquaECO.

He explained that the project uses artificial intelligence-enabled tools to support sustainable agriculture. Once fully developed, the technology could help improve farm productivity, profitability and food security.

In a separate comment, SESN South-South Coordinator and Membership Mobilisation Subcommittee Chairman, Hon. Ambassador Gloria Umukotete, expressed confidence in the society’s leadership under Akpoyibo. She said the executive had demonstrated commitment to advancing solar-energy technology in Nigeria.

Umukotete, who also serves as Assistant Secretary-General of the Council for Renewable Energy of Nigeria, described the conference theme as timely and relevant to the country’s energy challenges.

Ultimately, the conference will bring together financing, technical expertise, entrepreneurship and policy engagement at a time when Nigeria is seeking to widen access to reliable electricity. However, the impact of the World Bank-backed project will depend on effective implementation, transparent grant allocation, strong equipment standards and the ability of developers to deliver affordable, dependable power to underserved communities.