The Nigerian government has revealed that two companies have secured a total of N9 billion to support the deployment of mini-grid projects across four states.
This was disclosed by the Rural Electrification Agency (REA) in a statement issued on Sunday. According to the agency, one firm received N7.95 billion, while the other secured N1.056 billion to execute projects in Taraba, Kwara, Kogi, and Niger states.
The funding forms part of ongoing efforts to expand access to electricity through decentralized renewable energy solutions. It also follows earlier financing announcements by the REA, including N7.4 billion and N3.2 billion allocated to other power firms.
The initiative is supported under the Federal Government’s Distributed Access through Renewable Energy Scale-up (DARES) programme, which includes a N100 billion performance-based grant facility backed by a Nigerian bank.
Speaking on the development, REA Managing Director, Dr. Abba Aliyu, emphasized the growing momentum in the sector.
“What is particularly encouraging here is the consistency; this is not a one-off. It is a pattern of capital being deployed, projects moving forward, and confidence in the system continuing to grow.
“For developers, this means access to the equipment and financing needed to deliver. For communities, it means faster timelines for reliable power. And for the market, it reinforces the point that local financing is stepping up in a significant way.
“This is exactly the kind of energy we hoped to unlock where Nigerian financial institutions take the lead in powering Nigeria’s renewable infrastructure, backed by strong, performance-based frameworks. We are building momentum, and it is beginning to show,” Aliyu stated.
