Nigerian SMEs face challenges accessing affordable energy, with rising costs and insufficient supply. Removal of petrol subsidy may increase energy costs but presents an opportunity for businesses to transition to clean energy. Transitioning to clean energy offers cost-effectiveness, and energy independence, and aligns with sustainability goals.

The Rocky Mountain Institute’s (RIM) Energy Transition Academy’s aim is to “accelerate action to advance distributed energy resources” in collaboration with the Lagos Energy Academy and the NERC. Recently, NERC Commissioner Yusuf Ali addressed RMI’s Global Fellowship Programme participants concluding the Nigeria cohort’s six-month training program

The collaboration aims to contribute to Nigeria’s energy access goals and economic development by expanding solar power access and accelerating positive change in the power sector. Chapel Hill Denham, recognized for its contributions to climate finance, brings its expertise in financing renewable energy projects to the partnership.

RMI’s Energy Transition Academy accelerates action to advance distributed energy resources (DERs) in collaboration with the Lagos Energy Academy (LEA) and the Nigerian Electricity Regulatory Commission (NERC).

REAN and Odyssey Energy Solutions, have signed an agreement to work together to make solar equipment procurement “more efficient and cost-effective” for solar companies operating in Nigeria. They will make $100m of equipment finance available to REAN members.

WiSolar, a green digital energy provider based in South Africa, is seeking to provide simplified solar solutions that can power over one million houses in Nigeria. The company uses a combination of solar panels, energy storage, and smart energy management systems to provide clean and sustainable energy to its customers.

Grid Crux’s Chief Executive Officer (CEO), Mojola Ola, explained that the offering leverages technological advancements in consumer credit, unique customer identification and a robust fintech backbone infrastructure to provide consumers with easiest and quickest means to access credit for residential and SME renewable solutions.

The Ministry of New and Renewable Energy (MNRE) has recently unveiled significant reforms in the Approved List of Models and Manufacturers (ALMM) for solar photovoltaic modules. These reforms aim to streamline processes, reduce costs, and enhance the ease of doing business in the solar energy sector.

The US$ 2.2 billion Nigeria Sovereign Investment Authority (NSIA) has announced it is prepared to allocate US$1 billion for solar and health care infrastructure. The funds are intended to be disbursed over the next three years. Nigeria is Africa’s largest country by population.

In a bid to replace expensive fossil fuel-powered generators and end Nigeria’s dependency on the unreliable national grid, an international solar energy company that designs, distributes, installs and finances solar energy solutions, Sun King, has launched its new solar inverter in Nigeria.