The blended finance platform is aimed at mobilising large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria.

The project aims to raise $188 million (approximately ₦257.6 billion) to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.

The initiative also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national effort to expand electricity access through decentralised renewable energy solutions.

Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner, more sustainable energy systems.

Speaking at the launch, the managing partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.

“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy,” he said.

Also speaking, Senior Partner, Barton Heyman, Anthony Feyitimi, said:

“The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy.

“Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete. We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility.

“The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”

In his remarks, the managing Director of the REA, Abba Aliyu, said the initiative directly addresses one of the sector’s most pressing constraints, access to finance.

“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment. Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” he stated.

Dr Abba Aliyu further explained that the GFIF was pioneered by the REA as a long-term institutional framework designed to replace the fragmented, project-by-project financing models of the past with a scalable and sustainable funding ecosystem.

By establishing this formal financial architecture, the agency aims to provide developers with more reliable access to capital, accelerating the nation’s drive toward universal energy access.

Speaking on behalf of FCMB, George Ogbonnaya, senior vice president and divisional head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.

“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed N100 billion in debt financing for DARES. Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers. We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities. This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.

He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.

Derek Chime, chief investment officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.

Simon Field, deputy head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.

Titilayo Oshodi, special adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.

Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.

The initiative is backed by a robust public-private partnership. While the REA anchors the project pipeline and results-based financing mechanisms, Barton Heyman leads the blended finance structuring.

Held at Radisson Blu Hotel, Ikeja GRA, on Wednesday, October 22, the event convened leading voices from government, telecommunications, power, and technology sectors to discuss solutions for expanding digital access to unserved and underserved communities across Nigeria.

The Summit, themed “Bridging Nigeria’s Digital Divide: Accelerating Rural Connectivity Through Collaboration,” was organised by Business Metrics in partnership with stakeholders across the industry.

Delivering the keynote address, Dr Aminu Maida, executive vice chairman of the Nigerian Communications Commission (NCC), noted that the real measure of connectivity lies in its economic impact rather than technical metrics.

“The accurate measure of connectivity is not in megabits per second, but in economic value it creates or loses,” Maida said.

He noted that despite progress since 2001, millions of Nigerians are still digitally invisible, unable to access reliable broadband, mobile, or data services that now define inclusion in the modern economy.

In his address, Engr Gbenga Adebayo, chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), drew attention to the underlying infrastructure gaps that hinder connectivity.

“80 million Nigerians do not have access to reliable electricity,” he stated, warning that without addressing energy poverty, telecom expansion will continue to face obstacles.

Adebayo further stressed that connectivity must be pursued as a people-centred mission.

“48 million Nigerians do not have access to toilets,” he said. “When we talk about inclusion, it’s not just digital; it’s about dignity.”

The President of the Association of Telecommunications Companies of Nigeria (ATCON), Tony Emoekpere, called for urgent transition from dialogue to execution.

“We need to move away from talk shops into actions,” he stated. “This Summit should not end with resolutions; it must produce measurable results.”

Speakers from across the ecosystem, including the Rural Electrification Agency (REA), highlighted ongoing collaborations with NCC to power rural telecom sites using renewable energy mini-grids. 

This partnership aims to reduce costs and improve sustainability by pairing electricity access with digital connectivity.

Dr Tola Yusuf, chief executive officer of Infratel Africa, linked infrastructure to development outcomes.

“The backbone of rural prosperity is digital connectivity, but the backbone of connectivity is the right incentive structure,” he said, calling for fiscal incentives, public-private partnerships, and community-led models.

Dr Olusola Teniola, former ATCON President and executive director at ipNX, reiterated the urgency of implementation.

“It does remain a talk shop, and I’m tired of talk shops nowadays. We need action,” he said.

The Summit’s panel sessions explored multiple dimensions of the challenge and produced several key insights:

The first panel, focused on Mainstreaming Edge Infrastructure for Accelerated Inclusion.

Moderated by Chidi Ajuzie, group COO, Western Telecoms & Engineering (WTES) Limited, panellists included Dr. Ayotunde Coker, CEO, Open Access Data Centre (OADC); Wole Abu, MD, Equinix West Africa (MainOne); Dr. Krish Ranganath, regional executive (West Africa), Africa Data Centres and Goke Juba, associate director, Fibre Operations, IHS Nigeria.

Key insights included:

• Expansion of edge data infrastructure beyond Lagos and Abuja is essential to reduce latency and improve local content delivery.
• Power, security, and connectivity must be addressed together to ensure site viability.
• Collaboration between operators and data-centre providers will drive faster deployment in rural areas.

The second session,  focused on Infrastructure Sharing & Collaboration as Key Pillars of Bridging Digital Divide, was moderated by Louisa Olaniyi, the compere. 

The panellists included Tony Emoekpere, president, Association of Telecommunications Companies of Nigeria (ATCON); Dr Tola Yusuf, co-founder, Infratel Africa; Segun Okuneye, Divisional CEO, ipNX Nigeria Limited; Onemeguke Azubuike Lucky, senior analyst, Natcom Development and Investment Limited (ntel); Olumide Idowu, group chief technology & information officer, Alphabeta LLC; John Nwachukwu, chief strategy & executive officer, Zoracom; and Dr Isa Usman, associate director, Network Operations, GICL.

Key insights included:

• Shared infrastructure remains the most cost-effective path to rural expansion.
• Spectrum access, harmonised right-of-way policies, and targeted subsidies are needed to attract investors.
• Result-based financing and community-owned networks can complement traditional operator models.

Omobayo Azeez, convener and lead of the Rural Connectivity Initiative, emphasised the need for continued movement.

“Let this gathering be remembered as the moment we all come together to move from talk to action, from plans to progress, and from intent to real impact,” he said.

The Rural Connectivity Summit will become an annual platform for dialogue, accountability, and innovation, bringing together regulators, operators, development agencies, and community leaders to drive universal connectivity and digital inclusion across Nigeria.

But today, the announcement of a strategic partnership between Galaxy Backbone Limited (GBB) and the Rural Electrification Agency (REA), marks a historic convergence of digital infrastructure and clean energy delivery, designed to reach every corner of the nation.

The Vision: Connecting People, Powering Dreams

With Nigeria’s digital economy contributing over 18.5% of GDP as of Q1 2025, and over 92 million Nigerians still lacking access to reliable electricity, the collaboration between REA and GBB is not just timely, it’s essential.

“This is a landmark moment in Nigeria’s journey toward a digitally empowered, sustainably powered, and inclusively connected nation,” said Professor Ibrahim Adeyanju, managing director/CEO of Galaxy Backbone. “We are no longer talking about transformation in silos. This is about convergence, of energy and innovation, cables and classrooms, power grids and possibilities.”

Galaxy Backbone, tasked with providing secure ICT infrastructure for federal institutions, understands that connectivity without power is potential without execution. In many communities, fiber optic cables have been laid but remain dormant—waiting for reliable electricity to bring them to life.

The Plan: Where Fiber Meets Solar

Outlined in the MoU are several impactful initiatives:

• Solar Electrification of GBB’s Metro Fibre Sites: Beginning in Abuja, REA will deploy solar solutions to power GBB network sites, improving uptime and reducing reliance on diesel generators.
• Fibre-to-Hostel Project: Through a collaboration with the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), students in public tertiary institutions will soon enjoy reliable Wi-Fi, powered by sustainable energy, starting with hostels in six institutions.
• 774 Local Government Digitization Initiative: The project will launch in six pilot LGAs, combining energy and connectivity to support smarter governance at the grassroots level.
• Cloud Infrastructure & Temporary Connectivity: GBB will provide cloud hosting, LANs, and co-location services to boost REA’s operational efficiency and digitization across project sites.

REA’s Take: Powering More Than Lights

For Mr. Abba Aliyu, managing director of REA, this partnership is a dream long in the making.

“This isn’t just about installing solar panels or routers. This is about empowering students in hostels to access online learning, about rural clinics being able to access cloud-based patient data, about young entrepreneurs uploading their business ideas from off-grid communities,” he explained.

With over 1,000 solar mini-grids deployed under REA’s flagship programs, and tens of thousands of households electrified, the agency has the reach—and now, through GBB, the digital horsepower—to catalyze inclusive growth across sectors.

National Agenda, Local Impact

The partnership directly supports the Renewed Hope Digital Economy Agenda of President Bola Ahmed Tinubu, which aims to create a tech-enabled, youth-driven, and inclusive economy by 2030.

This MoU is more than a symbolic agreement, it’s a tactical move to merge clean energy with smart governance and digital access, especially in Nigeria’s underserved communities.

Already, stakeholders from education, healthcare, and local governance are watching with anticipation.

• In rural Kogi, school administrators envision powered classrooms with stable internet.
• In Benue, healthcare workers hope for online health records in clinics long without power.
• In Kano, young coders dream of hackathons from hostels once crippled by blackouts.

Looking Ahead: The Spark of Inter-Agency Innovation

The ceremony, attended by senior executives and the media, concluded not with fanfare, but with firm resolve.

“Nigeria doesn’t just need more infrastructure, it needs integrated, intelligent infrastructure,” said Professor Adeyanju. “And that is what today represents: a shift from isolated interventions to strategic synergy.”

With the MoU signed and initial projects already in motion, Galaxy Backbone and REA are turning intention into impact, one solar panel, one fiber node, one empowered Nigerian at a time.

In a world chasing smart cities and AI revolutions, Nigeria may just find its edge in the simplicity of this idea: when power and connection meet, innovation flows freely.

The collaboration resulted in a two-day workshop hosted in Abuja from June 3-4, 2025, to explore policy framework for enabling community networks towards bridging the digital divide and accelerating socio-economic development in Nigeria’s underserved and unserved communities.

The forum brought together regulators, community leaders, technical experts and potential foreign investors, among others, to examine policy and regulatory barriers, explore innovative funding mechanisms, ensure sustainable renewable solutions and strengthen collaboration with stakeholders.

Addressing participants at the workshop, Dr. Aminu Maida, the executive vice chairman of NCC, said the workshop is important to bridging the digital divide in Nigeria and foster inclusive social economic development.

“This workshop is an opportunity for all of us to harness the expertise, insights, and experiences of diverse stakeholders present here which includes the regulators, community leaders, technical experts and potential foreign providers to address the critical challenges such as affordable devices, access, licensing, spectrum allocation, infrastructure development, sustainability and institutional monitoring,” said Maida, who was represented at the event by Abraham Oshadami, executive commissioner, Technical Services, NCC.

Maida said the workshop demonstrates the Commission’s commitment to advancing digital inclusion, particularly in underserved and unserved areas.

“At NCC, we recognise the transformative potential of community center networks in achieving this important goal,” he said.

The EVC said NCC was committed to “this journey and views this workshop as a catalyst for meaningful change,” stating that the expertise, perspectives and commitments will shape the future where every Nigerian, regardless of his or her status, will have meaningful access to opportunities from digital connectivity.

In her remarks, Co-manager of the Association for Progressive Communications’ Local Network (LocNet) initiative, Kathleen Diga, noted that the collaboration was to tackle identified hindrances to digital inclusion.

“This is a space where we can be open and exchange ideas of possibilities, opportunities that will remain in realising values of a diversified ecosystem.”

Diga said,

“I believe this workshop presents a moment in time that we can explore the bottom-up approach in local communities, small social enterprises, corporative among others, which have the ability to fill some of the digital gaps that remain unfilled,” she said, adding emphasising the need to recognise that community centre connectivity exists and they are grow throughout the global south, which, she said, are a “strategic response to digital exclusion.”

According to a statement signed by Mrs. Nnenna Ukoha, acting head, Public Affairs at NCC, the workshop featured presentations from the NCC, the Association for Progressive Communications and other institutional stakeholders such as the Rural Electrification Agency (REA) and the Central Bank of Nigeria (CBN) all geared towards exploring a joint policy framework to address rural digital divide.

The Association for Progressive Communications is a 35-year-old international network member-based organisation encouraging digital inclusion in the unserved communities, particularly with communities in the global south and the workshop, through its LocNet initiative aimed at crafting an enabling inclusive regulatory framework for community networks in Nigeria.

In a statement, the agency said it has been able to deploy over 1,650km of solar street lights, improving power, security and economic growth in rural areas.

It stated that from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.

It added that in response to subsidy removal, it is implementing interventions to develop electric mobility, mini-grids, distribute home systems, and deploy streetlights, potentially supporting up to 250,000 households in the coming year.

“REA completed 1,403 projects under the capital budget, delivering solar street lights, mini-grid projects, standalone home systems, and grid extension works.

“Through various programmes, including the Energizing Education Programme, Energizing Agriculture Programme, Beyond COVID-19, and Economic Clusters, REA delivered over 65MW of power across Nigeria’s six geo-political zones.

“REA has delivered over 500MW of power, electrified numerous communities, created 500,000 new jobs, and attracted over $2 billion in investments in the renewable energy sector over the past decade.”

The statement, which acknowledged the ongoing anti-graft investigation in the agency, noted that it is collaborating closely with the Ministry of Power, National Assembly, and anti-corruption agencies, to initiate further reforms within REA.

It added that its Director of Funds and Accounts, who is at the centre of investigations has been redeployed to the Office of the Accountant General.

“The allegation levelled against the then director is undergoing investigation by the anti-graft authorities including the core REA staff alleged to be involved. This marks a significant step forward, as it demonstrates the agency’s commitment to accountability,” it said.

Mr Khalil Halilu, the Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), and Mr. Ahmad Salihijo Ahmad, the Managing Director/CEO of the Rural Electrification Agency (REA), have agreed to work together to deploy NASENI Solar resources and other renewable energy technologies, to increase electricity supply to Nigeria’s rural areas.

This commitment was the outcome of discussions between the two chief executives in Abuja on Friday September 15, 2023, when the EVC/CEO of NASENI visited the Rural Electrification Agency (REA) office as part of his efforts to engage with stakeholders to promote the adoption of NASENI’s technologies.  

Mr. Halilu, who assumed office two weeks ago as NASENI’s chief executive, said, “The focus is to hit the ground running by nurturing effective collaborations with the right stakeholders who will assist NASENI to fulfil its mandate of providing the science and engineering infrastructure base for Nigeria’s businesses and economy to thrive.” 

According to him, “The strategy, going forward, for NASENI includes knocking on the doors of potential end-users of the Agency’s technology and engineering products, making off-take of our Research & Development (R&D) easy, while also bringing the direct impact of our work to bear on the Nigerian economy.”

The two chief executives pledged to work together to bring down the cost of solar power installation in rural areas, through efforts such as increased local production of solar panels by NASENI. The overall goal, according to the REA MD, Ahmad Salihijo, is to facilitate the Federal Government’s ambition to achieve the electrification of Nigeria’s rural areas in record time.

Earlier in the day, Mr. Halilu visited the Director General/CEO of the National Information Technology Development Agency (NITDA) Mr. Kashifu Inuwa Abdullahi, on a similar mission. The two CEOs emphasized the need to look inward and develop local content (human and material) capacity to transform the economy.

Halilu sought to leverage on the long-standing relationship between himself and the NITDA boss, and between the two organisations, to share experiences and best practices in management and in resource optimization.

Abdullahi disclosed that NITDA’s strategy of focusing on changing both the mind-sets and skill sets of its staff are two critical factors that have helped the Agency achieve up to 62 percent of its goals and objectives within two (2) years, ahead of its four (4) year projection.

He noted that the same approach would work for NASENI, if there were well-thought-out strategic plan, and clarity of vision and goals.

This initiative is part of the Nigeria Electrification Project (NEP) and aims to ensure that 1,050,000 people have improved access to energy services.

The REA’s goal is to ensure that rural and underserved communities have easy access to energy-efficient and productive equipment.

The PUE initiative will encourage the use of low-cost appliances in unserved and underserved communities to enhance rural productivity, economic growth, and overall rural development.

The managing director of the REA, Salihijo Ahmad, explained that the project is being supported by the African Development Bank (ADB).

The PUE initiative will contribute to the sustainability of off-grid energy infrastructure across communities in Nigeria.

Ahmad emphasized that the REA’s mandate is to provide electricity access to unserved and underserved households and MSMEs in rural areas.

The agency has been actively collaborating with the private sector to achieve its objectives. Beyond ensuring access to electricity, the REA is focused on promoting the productive use of equipment and appliances to stimulate socio-economic development in off-grid communities.

The NEP, funded by the World Bank and the African Development Bank, targets unserved and underserved households, MSMEs in rural communities, federal universities, and teaching hospitals throughout Nigeria.

The signing of the grant agreement for the productive use appliances component is considered a milestone in implementing the ADB-funded NEP.

The REA chief expressed appreciation for the cooperation of energy access companies and urged them to align fully with the program’s objectives in order to achieve transformative change.