The Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB) and ARM Harith Infrastructure Investment Ltd. have launched a Green Finance Investment Facility (GFiF), a blended‑finance platform designed to channel large‑scale private and institutional capital into distributed renewable‑energy projects across Nigeria.
The initiative aims to raise US$188 million to fund 191 megawatts of solar capacity for households, communities and businesses nationwide. The financing will be directed through the Distributed Access through Renewable Energy Scale‑Up (DARES) programme, a government‑led effort to expand electricity access via decentralised renewable solutions.
The launch ceremony in Lagos brought together financiers, renewable‑energy developers, policymakers and development‑finance representatives. Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a market‑driven model that can unlock private capital at scale for Nigeria’s energy transition. “The Green Finance Investment Facility is more than a financing arrangement; it is direct support for over one million Nigerians,” Lala said, adding that the pilot is the first step toward a longer‑term target of US$40 billion to fund 20 gigawatts of distributed renewable capacity.
Senior Partner at Barton Heyman, Anthony Feyitimi, stressed that the platform is not solely about clean energy but also about the economic benefits of reliable, distributed power. “Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete,” he explained, noting that the pilot’s US$188 million seed capital is intended to demonstrate a replicable blended‑finance structure that combines sovereign pipelines, results‑based funding and commercial loans.
Abba Aliyu, Managing Director of the REA, said the facility directly tackles the sector’s chronic financing gap. He highlighted that the GFiF replaces fragmented, project‑by‑project financing with a scalable, sustainable funding ecosystem, providing developers with more predictable access to capital and accelerating progress toward universal electricity access.
FCMB’s Senior Vice President and Head of Business Banking, George Ogbonnaya, outlined the bank’s commitment to renewable‑energy financing, confirming a ₦100 billion debt commitment to the DARES programme and ongoing support for more than 42 mini‑grid projects that aim to connect over two million households.
Chief Investment Officer of ARM Harith Infrastructure Investment Ltd., Derek Chime, called for deeper ecosystem collaboration to mobilise further investment, while Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s support for strengthening green‑finance frameworks and expanding renewable uptake in Nigeria. Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, underscored the need for coordinated investment, innovation and policy to accelerate sustainable‑energy access.
Stakeholders agreed that the GFiF is a critical vehicle for attracting long‑term capital, reducing investment risk and speeding the deployment of clean‑energy solutions nationwide. The partnership positions the REA as the pipeline anchor, with Barton Heyman handling the blended‑finance structuring, while FCMB and ARM Harith provide debt and equity capital respectively.
If successful, the facility could reshape Nigeria’s energy landscape, delivering reliable power to underserved areas, stimulating economic activity and positioning the country as a regional leader in distributed renewable‑energy financing. The next phase will focus on deploying the initial US$188 million, monitoring project performance and refining the model for the envisaged US$40 billion, 20‑gigawatt ambition.
