Electricity: Solar energy now attractive to investors in Nigeria – FG

The Nigerian government has said mini-grid solar energy is fast becoming more attractive to investors in the country.

Speaking in Lagos on Friday, Abba Aliyu, Managing Director of the Rural Electrification Agency, said mini-grids now present a viable commercial model for electricity delivery.

According to him, solar energy is now capable of de-risking Nigeria’s power sector and attracting massive private capital.

He argued that the true transformation of Nigeria’s power sector lies in shifting public resources away from subsidizing systemic inefficiencies to private sector involvement.

He noted that solar energy initiatives by the federal government have helped cut down on $14 billion spent annually by Nigerian businesses on self-generated electricity.

“Too often, mini-grids are viewed only as rural electrification initiatives,” he stated.

“In reality, they represent a new commercial model for electricity delivery,” he added.