The Federal Government has said solar mini-grid electricity is rapidly emerging as one of the most attractive investment opportunities in Nigeria, positioning the renewable energy sector as a key driver of the country’s power transformation.
Speaking in Lagos on Friday, the Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, said mini-grid solar projects have evolved beyond rural electrification to become a viable commercial model for delivering reliable electricity.
According to him, solar energy has the potential to de-risk Nigeria’s power sector, attract significant private investment and reduce the country’s dependence on inefficient public funding.
Aliyu stressed that lasting reforms in the electricity sector would come from redirecting public resources away from subsidising systemic inefficiencies and creating an enabling environment for greater private sector participation.
He also noted that the Federal Government’s solar energy initiatives are already helping to reduce the estimated $14 billion Nigerian businesses spend annually on self-generated electricity.
“Too often, mini-grids are viewed only as rural electrification initiatives,” Aliyu said.
“In reality, they represent a new commercial model for electricity delivery,” he added.
