Nigeria eyes 209,000MW, $11bn solar power projects, Report

Nigeria is embarking on an ambitious energy expansion, targeting 209,000 megawatts of power generation by 2050. A significant portion of this goal relies on 53 large-scale solar power projects, collectively valued at approximately $11 billion, which are currently in development across the nation.

These utility-scale projects are central to Nigeria's energy transition plans, aiming to bolster the country's energy mix and enhance electricity access, especially for communities that have historically been underserved. Beyond large-scale developments, Nigeria is actively pursuing decentralized electrification through solar mini-grids and off-grid systems. The Rural Electrification Agency leads a nationwide initiative to deploy over 1,300 such systems, with 250 mini-grids designed to connect to the national grid, thereby stabilizing supply and reducing reliance on diesel generators.

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For the first time, we are witnessing the implementation of the biggest publicly funded renewable electricity project in the entire world. It is a $750m project that will catalyse $1.1bn in private sector funding to deploy 1,350 mini-grids across the country.

This initiative, supported by $750 million in public funding and expected to attract an additional $1.1 billion in private investment, is described by the Rural Electrification Agency's Managing Director, Abba Aliyu, as a landmark intervention. "For the first time, we are witnessing the implementation of the biggest publicly funded renewable electricity project in the entire world," Aliyu stated, highlighting the project's scale and catalytic effect on private sector funding.

Aliyu emphasized that the Federal Government is actively promoting renewable energy as a primary alternative electricity source, calling it the "easiest and most economically viable means of powering the country." With an abundance of renewable resources, Nigeria aims to become the "renewable hub of Africa," with a structured program to provide electricity to 17.5 million Nigerians within three years. Progress is already evident, with significant deployment of mini-grids nationwide.

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For the first time in the history of the country, the Federal Government is positioning the renewable energy sector of the Nigerian economy as the alternative source of electricity in the country. It’s the easiest and most economically viable means of powering the country, and we have an abundance of renewable energy sources. President Bola Tinubu is positioning Nigeria now to be the renewable hub of Africa, and there is a structured programme which will see 17.5 million Nigerians (20 per cent of the population) provided with electricity in just three years.