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2 clusters · 2 sources · 12 days · First seen · Last updated

Nigeria renewable energy policy and financing

Overview

Legislative and financial initiatives are advancing to expand renewable energy access in Nigeria. The House of Representatives passed the second reading of the Electricity Act (Amendment) Bill, 2025, which proposes establishing the National Authority for Renewable Energy (NARE). This authority would centralize coordination for clean energy development, aiming to reduce regulatory duplication and prioritize decentralized solutions like mini-grids and off-grid systems.

Complementing these legislative efforts, the $300 million Nigeria Distributed Renewable Energy (DRE) Fund has been commercially launched. Co-managed by the Nigeria Sovereign Investment Authority (NSIA) and Africa50, the fund is designed to mobilize investment for distributed renewable energy solutions, such as standalone solar systems, to serve underserved communities and businesses.

Entities

Rural Electrification Agency · Afam Victor Ogene · Nigeria · National Authority for Renewable Energy · Yusuf Umar

Timeline

  1. [BUSINESS] 2 sources
    Nigeria Distributed Renewable Energy Fund launches with $300 million

    The $300 million Nigeria Distributed Renewable Energy (DRE) Fund, managed by NSIA and Africa50, aims to expand electricity access via solar systems and mini-grids for underserved Nigerian communities.

  2. [POLITICS] 4 sources
    Nigeria House of Representatives advances bill to create renewable energy authority

    Nigeria’s House of Representatives has advanced a bill to establish the National Authority for Renewable Energy (NARE) to centralize clean energy regulation and boost rural electricity access.

Sources

blueprint.ng · thisdaylive.com