The Nigerian government has announced that two firms have secured a combined N9 billion financing for mini-grid deployment in four states. The Rural Electrification Agency (REA) disclosed this in a statement on Sunday.
According to the REA, the firms received N7.95 billion and N1.056 billion for minigrid projects across different areas in Taraba, Kwara, Kogi, and Niger states. These allocations follow the REA’s recent announcements of N7.4 billion and N3.2 billion in financing for two power firms.
The facility is backed by the Federal Government’s Distributed Access through Renewable Energy Scale-up (DARES) program’s Performance-Based Grant (PBG), which includes N100 billion in finance funding with a Nigerian bank.
Commenting on the development, REA Managing Director Dr. Abba Aliyu lauded the consistent capital injection into Nigeria’s renewable energy sector.
“What is particularly encouraging here is the consistency; this is not a one-off. It is a pattern of capital being deployed, projects moving forward, and confidence in the system continuing to grow,” Aliyu stated.
“For developers, this means access to the equipment and financing needed to deliver. For communities, it means faster timelines for reliable power. And for the market, it reinforces the point that local financing is stepping up in a significant way.
“This is exactly the kind of energy we hoped to unlock where Nigerian financial institutions take the lead in powering Nigeria’s renewable infrastructure, backed by strong, performance-based frameworks. We are building momentum, and it is beginning to show,” he added.
The financing represents a significant step in expanding electricity access to underserved areas of Nigeria through renewable energy mini-grids, which can provide reliable power to rural communities without requiring connection to the national grid.
