- World Bank allocates $750 million for clean energy projects in Nigeria.
- The aim is to provide electricity to more than 17.5 million Nigerians facing power shortages.
The World Bank allocates $750 million for clean energy projects in Nigeria. This move addresses the electricity crisis in Africa’s most populous nation, where over 85 million people, relying on expensive generators, lack access to power.
The Distributed Access through Renewable Energy Scale-up (DARES) initiative intends to provide electricity to more than 17.5 million Nigerians. Building on the success of the prior Nigeria Electrification Project, which facilitated 125 mini-grids and distributed a million solar home systems, this new effort aims to reach 5.5 million more Nigerians.
To support this cause, the project will leverage $100 million from the Global Energy Alliance for People and Planet, alongside $200 million from Japan’s International Cooperation Agency. Alongside over $1 billion in private capital, this collaboration seeks to close Nigeria’s electricity access gap, offering sustainable energy solutions to millions nationwide.