The Nigeria Sovereign Investment Authority (NSIA), the institution that manages Nigeria’s sovereign wealth fund, is allocating $24 million (10 billion naira) in funding for renewable energy. This investment is aimed at the deployment of more than 200,000 solar home systems in Nigeria.

The use of solar energy to power businesses has been found to significantly improve the socioeconomic status of Nigerians, according to findings of a study conducted by Boston Consulting Group (BCG) and All-On.

The scheme, a solar home system, owned by Shenzhen Lemi Technology Development and Lemi Renewable Electricity Limited is targeted at small rural communities spread across the state.

The Access to Energy programme aims to provide access to affordable renewable energy for households and businesses to improve productivity, increase income, trigger new jobs, and improve the quality of life for residents of the communities.

The department of Commerce of Yunnan Province, China on Friday donated 200 sets of off-grid photovoltaic equipment to the Ministry of Science Technology and Innovation (FMSTI) to boost the nation’s access to renewable energy in rural communities.

Impact investors All On and Katapult Climate are investing $1.4 million in NXT Grid. In Nigeria, the company installs and operates small-scale solar power plants for productive use, powered by artificial intelligence.

The projects, according to the statement, include Information Communications Technology centres, borehole and water treatment plants, mammography centres, secondary school structures, solar-powered water projects, and solar hybrid power plants.

The project began as a framework agreement signed by South Korea and Nigeria, and laid foundation for technological support and related policies. The project begins with project-designing in April 2022 and extend till December, 2024.

Nigerian company Peachwater’s Powerstove, a connected, clean energy stove, has been selected to receive the first African Entrepreneur Resilience Initiative (ARIE) award from the U.S. African Development Foundation (USADF).

The initiative of the Federal Ministry of Works and Housing in Mabushi Solar Project won the award for best African Commercial and Industrial Solar Project of the Year.