Investment Programmes

Find here an overview of investment programmes in Nigeria from the Nigerian Investment Promotion Commission (NIPC).

AfricaConnect provides financing support on attractive terms to European companies in both their existing and planned activities in Africa. It promotes and facilitates local investments in a targeted manner, offering tailored financing solutions without red tape for subsidiaries of European companies that are already active in Africa or are planning to enter the market and for African companies holding long-term business relationships with European companies. 

The Off-Grid Energy Access Fund (OGEF) provides local currency financing solutions to companies bringing affordable solar energy to communities living off the grid in the region. OGEF’s flexible approach is responsive to the needs of the African energy access sector, accommodating different funding requirements, jurisdictions and borrower types. Eligible borrowers include companies and specialist SPVs and span distributors, consumer finance providers, appliance companies, mini-grid developers and–indirectly–software and other service providers.

The objective of the programme is to ease access to, and the flow of, flexible funding/finance for clean energy developers, in order to provide clean and dependable electricity to households as well as clusters of micro and small businesses, and industries. The funds are channelled through the Central Bank of Nigeria (CBN), the Development Bank of Nigeria (DBN) and Bank of Industry (BOI).

With its NESP programme, the German Agency for International Cooperation (GIZ) provides grants for the total cost of the distribution facilities. NESP supports Nigeria in utilising the potential of energy efficiency, integrating renewable energy into the grid and further scaling rural electrification. The overarching aim is the provision of reliable, affordable and sustainable energy for the Nigerian people. This includes the provision of energy to disadvantaged parts of the population that have not had access to modern energy services before.

The Energizing Education Programme (EEP) is Federal Government of Nigeria initiative implemented by the Rural Electrification Authority (REA), to provide sustainable and clean power supply to 37 federal universities and seven university teaching hospitals across Nigeria. 

The project includes the provision of an independent power plant, upgrading existing distribution infrastructure, street lighting to improve security within the universities’ campuses, as well as the development of a world-class training centre on renewable energy at each university.

The Rural Electrification Fund (REF) is a fund administered by the Rural Electrification Agency (REA) to promote the expansion of the grid, and off-grid electrification. It is funded by government surplus, fines obtained by NERC, and gifts and donations from third parties.

The Energizing Economies Initiative (EEI) is a Federal Government of Nigeria initiative implemented by the Rural Electrification Agency (REA). It aims to enable the rapid deployment of off-grid electricity solutions to MSMEs in economic clusters (such as markets, shopping complexes and agricultural/industrial clusters) through private sector developers.

The EEI seeks to increase energy access and economic growth by providing clean, reliable and affordable power.

The Nigeria Electrification Project (NEP) is a private sector-driven initiative of the Federal Government of Nigeria in collaboration with the World Bank which aims to provide power to 250,000 SMEs and one million households. Key components include grants and subsidies for solar mini-grids, SHS, and captive power for education.

SUNREF Nigeria seeks to improve access to energy through improved access to affordable finance for renewable energy technologies that will improve lives, increase economic opportunities and support various sectors such as industry and agriculture. The SUNREF program comprises a long-term line of credit from Agence Française de Développement (AFD) to each partner bank, a Technical Assistance component funded by the European Union (EU) and an Investment Grant also funded by the EU.