Nigeria Urged to Maximise $11.3m AfDB Renewable Energy Fund Through Mini-Grids and Solar Expansion

Nigeria has been advised to take full advantage of the $11.3 million African Development Bank (AfDB) renewable energy financing by focusing on tailored energy solutions that address the country’s unique power challenges. Energy expert and Managing Director of Idfon Power Engineering Consultants (IPEC) Limited, Dr. Idowu Oyebanjo, said the country must move beyond general approaches and prioritize systems that work for both rural and peri-urban communities.

According to the AfDB-backed initiative, the funding will support 14 African countries, including Nigeria, to expand electricity access in underserved and fragile regions. The programme targets mini-grid and Peace Renewable Energy Certificate (P-REC) projects, which are expected to improve power supply for an estimated 856,000 people while opening up new financing opportunities for developers in high-risk markets.

Dr. Oyebanjo stressed that Nigeria stands to gain significantly if the funds are directed toward mini-grid development, especially in areas where grid electricity remains unreliable or unavailable. He also highlighted the importance of solar energy deployment, noting that Nigeria’s abundant sunlight presents a major opportunity to reduce dependence on fossil fuels and improve long-term energy security.

He further recommended increased private sector participation and stronger investment in research and development (R&D). According to him, advancing local innovation in solar efficiency, energy storage systems, and smart grid technologies will help Nigeria design more sustainable and cost-effective energy solutions tailored to its environment and growing population needs.

The AfDB-supported facility—co-funded by a $5.65 million grant and the Nordic Development Fund—aims to accelerate clean energy access across Africa, particularly in fragile states. Experts say Nigeria, which requires an estimated $410 billion to achieve net-zero emissions by 2060, must use such opportunities strategically to close its electricity gap, stimulate economic growth, and improve productivity nationwide.

source: newtelegraph