In a groundbreaking initiative, the Nigeria Sovereign Investment Authority (NSIA) has unveiled plans to address power shortages in energy-deprived communities across the country by focusing on renewable energy solutions. The NSIA, in collaboration with Nigerian impact investor ALL ON, aims to deploy small-scale solutions such as solar mini-grids and home systems to reach areas abandoned by traditional grid infrastructure.
A statement by NSIA’s Managing Director, Aminu Umar-Sadiq, emphasized the goal of achieving expanded energy access to underserved and unserved segments of society through the Renewable Investment Platform for Limitless Energy. The platform underscores the importance of distributed renewable energy, marking a paradigm shift in addressing energy poverty.
Urging continued investment from development partners, Aminu challenges private sector players to innovate and develop scalable, affordable solutions. He envisions distributed renewable energy not only as a remedy for energy poverty but as a catalyst for a more sustainable, equitable, and prosperous future, displacing diesel-powered generation for commercial and industrial consumers.
Aminu expressed confidence that this commitment represents a new dawn for energy-deprived communities in Nigeria. As these solutions illuminate villages and towns, they signify more than just access to electricity, becoming a pathway to economic growth, empowerment, and a brighter future for millions.
Highlighting the significance of enabling policies and streamlined regulatory processes, Aminu called for a comprehensive approach to maximize the policy’s potential. The Managing Director of ALL ON, Caroline Eboumbou, emphasized the agility and efficiency of renewable energy in illuminating remote villages and towns overlooked for far too long.
Caroline noted the potential of mini-grids alone to empower millions of low-income households and small businesses, generating a staggering $10 billion in annual revenue. She introduced ALL ON’s Demand Aggregation for Renewable Technologies (DART) program, acting as a powerful catalyst by bringing together multiple DRE developers, negotiating advantageous prices, and securing financing from commercial lenders.
DART has already funded 12 companies, paving the way for over 40 mini-grids and 47,000 connections in two years. Caroline shared the success story of the Chito Community project in Benue State, a 350KW mini-grid that will positively impact over 7,000 households and businesses, fostering economic development and growth.
Caroline emphasized that the impact of Distributed Renewable Energy extends beyond illumination, fostering economic development, empowering entrepreneurship, and strengthening healthcare services. It paves the way for communities, especially women, to participate meaningfully in the economy and shape their destinies. The NSIA and ALL ON partnership signals a transformative journey towards a sustainable and empowered rural Nigeria.
