The African Development Bank has just allocated a $500,000 grant to Nigeria for the
establishment of the Nigeria Energy Access Fund (NEAF). The funding that will be allocated through the Fund for
Sustainable Energy in Africa (SEFA) managed by the Bank, will be used to develop and launch this
new fund dedicated to mobilizing financing for renewable energy projects.
These investments, mobilized from public and private partners, will be strategically oriented
towards projects for off-grid energy solutions or electric mini-grids. This fund will be the
first of its kind established in the country.
“Nigeria needs innovative and tailor-made technologies to provide energy to its citizens in
the need, thanks to off-grid solutions. This SEFA grant will help set up the NEAF,
and ultimately, to mobilize the necessary financing for this sector,” said Wale Shonibare,
the current AfDB Vice President for Power, Energy, Climate Change and Growth
green.
Remember that in Nigeria, more than 100 million people currently do not have access to electricity. the
electricity network, despite its installed capacity of 12.9 GW, produces only 5.4 GW of which only 3.5 in
average are distributed, due to the limits of the electrical transmission network. A situation that
led populations to massively resort to individual gasoline generators, with which they
generate for their needs, 43.2 GW of electricity.