Nigeria’s push to expand electricity access through renewable energy has received a major boost following the launch of the Green Finance Investment Facility (GFiF), a new blended finance platform expected to support over one million Nigerians with cleaner and more reliable power solutions.
Follow us on Google News
The facility, launched in Lagos on May 7, 2026, is designed to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across the country. The initiative is being led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARM Harith Infrastructure Investment Limited (ARMHIIL).
According to the partners, the platform aims to raise $188 million to finance 191 megawatts of distributed solar energy capacity for homes, businesses, and underserved communities across Nigeria.
The initiative is also aligned with the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national intervention focused on improving electricity access through decentralised renewable energy systems such as mini-grids and solar installations.
Stakeholders at the launch said the facility was created to tackle one of the biggest challenges slowing renewable energy growth in Nigeria — limited access to long-term financing.
Speaking during the event, Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a major step towards attracting large-scale private investment into Nigeria’s energy transition.
“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians,” Lala said.
“Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy.”
He noted that the platform was designed to create a financing structure capable of scaling renewable energy projects across different parts of the country while reducing investment risks for developers and financial institutions.
Senior Partner at Barton Heyman, Anthony Feyitimi, said the initiative goes beyond clean energy and focuses on improving economic productivity for businesses and communities struggling with unreliable electricity supply.
“The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy,” he said.
“Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete.”
Feyitimi added that the platform combines sovereign pipelines, results-based funding, and commercial financing into a single structure that can be replicated across future energy projects.
“The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria,” he added.
Managing Director of the REA, Abba Aliyu, said the launch directly addresses financing gaps that continue to affect renewable energy deployment in many communities.
“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment,” Aliyu said.
“Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future.”
FCMB also highlighted its growing involvement in renewable energy financing through the DARES programme and mini-grid development projects.
Speaking on behalf of the bank, Senior Vice President and Divisional Head of the Business Banking Group at FCMB, George Ogbonnaya, said the bank has committed ₦100 billion in debt financing towards DARES projects.
“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector,” he said.
“We are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers.”
Ogbonnaya disclosed that FCMB has already financed more than 42 mini-grid projects and is supporting efforts to connect over two million households nationwide.
Other stakeholders at the event also stressed the importance of stronger collaboration between government agencies, financial institutions, and renewable energy developers to accelerate electricity access across Nigeria.
Chief Investment Officer at ARMHIIL, Derek Chime, called for increased investment into renewable energy infrastructure, while Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to supporting green finance and clean energy adoption in Nigeria.
Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, also emphasised the need for policy support, innovation, and coordinated investments to improve sustainable energy access.
Nigeria continues to face significant electricity challenges, with millions of households and businesses still lacking stable power supply. Industry stakeholders believe initiatives like GFiF could play an important role in reducing financing barriers, expanding renewable energy infrastructure, and supporting long-term economic growth across the country.
