The Managing Director of the Rural Electrification Agency (REA), Mr. Abba Abubakar Aliyu, announced in Abuja that Nigeria has secured $950 million funding for its Distributed Access through Renewable Energy Scale-up (DARES) programme. This funding comprises $750 million from the World Bank and an additional $200 million from the Japanese International Development Corporation (JICA) as of February 2025.
Speaking during a collaborative agreement signing with nine renewable energy companies—including Ashipa Electric Ltd, De-Janees Concepts Ltd, Fox Power Ltd, MBH Power Ltd, Okra Solar PTY Ltd, Oando Clean Energy, Sosal Renewable Energy Ltd, and Welight Nigeria Ltd—Aliyu emphasized the government’s commitment to extending electricity to Nigeria’s 86 million citizens without access to power. The DARES project will create 14 interconnected mini-grids and various solar systems, aiming to supply electricity to 17.5 million Nigerians: 3 million via isolated mini-grids, 1.5 million via interconnected mini-grids, and about 12 million via mesh-free and standalone solar systems.
Aliyu outlined that the funding and infrastructure are part of a broader mandate to position Nigeria as the renewable energy hub of West Africa. He added that an additional N100 billion from the Federal Government has been secured to solarize public sector institutions, with work on that project set to begin shortly.
At the event, Oando Clean Energy’s President/CEO, Ademola Ogunbanjo, highlighted his company’s significant investment in the sector, including plans to roll out 600MW lines within the next year and establish a facility to produce and recycle solar panels.
