Nigeria has signed a US $200 million agreement with WeLight, a pan-African renewable energy company, to improve electricity access in rural communities.
The project will involve setting up 400 renewable mini-grids and 50 MetroGrids across the country, aiming to provide reliable power to approximately 1.5 to 2 million people. This initiative is expected to boost local economic development and increase Nigeria’s renewable energy share from 22% to 50%, reflecting the country’s commitment to transitioning toward cleaner energy sources.
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Energy in Nigeria
The project is supported by the World Bank and the African Development Bank, highlighting strong financial backing for Nigeria’s renewable energy expansion. WeLight, which is backed by Axian Group, Sagemcom, and Norfund, signed a Memorandum of Understanding (MOU) with Nigeria’s Rural Electrification Agency. This agency plays a key role in extending electricity access to underserved communities. Romain de Villeneuve, CEO of WeLight, expressed that this deal aligns with the company’s broader goal of becoming a leading renewable energy provider across Africa.
Nigeria, possessing abundant renewable energy resources like solar, wind, hydro, and biomass, however, the current power generation capacity stands at 7,566.2 MW; and only 15.61% of this is generated from renewable sources while the rest is based on fossil fuels. The country aims to expand its energy supply and achieve universal energy access through renewable energy, with the Renewable Energy Master Plan (REMP) aiming for 23% renewable electricity in 2025 and 36% by 2030.
