Initiative Targets Private Investment in Clean Energy
A new renewable energy financing platform has launched in Nigeria to attract large-scale private investment into the country’s distributed power sector.
The Green Finance Investment Facility aims to raise $188 million to support solar infrastructure projects nationwide. Promoters of the initiative said the platform will finance 191 megawatts of distributed solar capacity for homes, businesses, and communities across Nigeria.
The project is led by Barton Heyman Limited in partnership with Rural Electrification Agency, UK PACT, First City Monument Bank, and ARM Harith Infrastructure Investment Limited.
Platform Supports Federal Government Energy Programme
According to the partners, the facility also supports the Distributed Access through Renewable Energy Scale-Up programme. The Federal Government introduced the programme to expand electricity access through decentralised renewable energy systems.
Stakeholders from the financial sector, renewable energy industry, and government agencies attended the launch event held in Lagos on May 7, 2026.
Managing Partner of Barton Heyman Limited, Olumide Lala, said the platform would unlock major private-sector funding for renewable energy development across the country.
He explained that the initiative could improve electricity access for more than one million Nigerians.
“The Green Finance Investment Facility is more than a financing arrangement. It represents direct support for over one million Nigerians,” Lala said.
He added that the long-term goal is to raise $40 billion to finance 20 gigawatts of distributed renewable energy projects nationwide.
Stakeholders Highlight Economic Benefits
Senior Partner at Barton Heyman, Anthony Feyitimi, said reliable electricity would strengthen economic productivity across several sectors.
According to him, stable power supply would help businesses operate efficiently, improve supply chains, and support economic growth.
In addition, he described the financing model as a blended structure that combines sovereign pipelines, commercial funding, and results-based financing.
REA, FCMB Back Renewable Energy Expansion
Managing Director of the Rural Electrification Agency, Abba Aliyu, said limited financing remains one of the biggest challenges facing renewable energy deployment in Nigeria.
He noted that the initiative would help communities without stable electricity access reliable power solutions.
Meanwhile, Senior Vice President and Divisional Head of Business Banking at First City Monument Bank, George Ogbonnaya, revealed that the bank had committed ₦100 billion in debt financing for renewable energy projects under the DARES programme.
He also disclosed that FCMB currently funds more than eight developers under the isolated mini-grid performance-based grant scheme.
Furthermore, the bank has financed over 42 mini-grid projects across Nigeria.
Experts Call for Stronger Collaboration
Chief Investment Officer at ARM Harith Infrastructure Investment Limited, Derek Chime, urged stakeholders to strengthen collaboration within the energy sector.
Similarly, Deputy Head of Mission at the British High Commission in Lagos, Simon Field, reaffirmed support for green finance and renewable energy expansion in Nigeria.
Special Adviser on Climate Change and Circular Economy to the Lagos State Governor, Titilayo Oshodi, also stressed the need for coordinated investments and policy support to improve sustainable energy access.
Nigeria continues to face electricity challenges, with millions of households and businesses lacking stable power supply. However, stakeholders believe the new financing platform could accelerate clean energy deployment and reduce investment risks across the sector.
