Baobab Microfinance Bank Nigeria has launched a Green Finance Project in Lagos to help households and small businesses switch to solar energy as electricity instability and high fuel costs continue to affect daily life and productivity.
The initiative focuses on making solar energy more accessible by combining financing support with expert guidance. It aims to help residents and Small and Medium-sized Enterprises (SMEs) adopt reliable solar solutions that can reduce dependence on generators and unstable power supply.
Across Lagos, many homes and businesses struggle with frequent power outages. As a result, generator usage has increased, pushing fuel costs higher and making electricity more expensive for many people. Solar energy is increasingly seen as a practical alternative, but many consumers often lack the right information to choose suitable systems.
Baobab Microfinance Bank Nigeria says the Green Finance Project is designed to close this gap by helping people understand solar energy options and access financing that makes adoption easier.
A key part of the project is the training of Green Energy and Finance Consultants who will guide households and SMEs in selecting solar systems that meet their energy needs and financial capacity.
According to the bank, these consultants will be trained to understand both the technical and financial sides of solar energy so they can provide practical advice to customers.
Speaking on the initiative, the Chief Executive Officer of Baobab Microfinance Bank Nigeria, Eric Ntumba, explained the importance of proper guidance when investing in solar energy.
“Access to reliable solar energy starts with the right advice,” Ntumba said. “Through the Green Finance Project, we are investing in people and building the skills required to guide households and SMEs toward solar solutions that are affordable, realistic, and aligned with their long-term needs.”
The training programme will prepare consultants to assess the energy needs of homes and businesses, recommend suitable solar systems, and help customers understand financing options available for installation.
According to Baobab Microfinance Bank Nigeria, the project is designed to improve trust in the solar market by ensuring that customers receive professional advice before making investment decisions.
Rolf Kreitel, Project Manager of the Green Finance Project, said the initiative focuses on ensuring that solar energy decisions are practical for everyday users.
“This project comes from a simple conviction: real change only happens when energy decisions make financial sense, are technically understood, and are supported by advisors who are trained rigorously enough to understand the everyday realities people and small businesses face in Lagos,” he said.
The Green Finance Project is supported by the European Investment Bank through its Financial Inclusion Fund, which aims to promote sustainable energy solutions while supporting financial inclusion.
