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The World Bank has granted the Federal Government a $750 million concessional loan to support the expansion of renewable energy access in Nigeria through the Distributed Access through Renewable Energy Scale-up (DARES) project.

The President of the Solar Energy Society of Nigeria (SESN), Dr. Sunny Akpoyibo, disclosed this in an interview with journalists, saying the fund, domiciled in the Rural Electrification Agency (REA), would be deployed through Minimum Capital Cost Subsidies and Performance-Based Grants to private developers of solar mini-grids and rooftop solar systems.

Akpoyibo explained that the funding was designed to support on-lending and reduce investment risks for developers, with particular emphasis on providing clean and affordable energy for productive activities, especially in the agricultural and educational sectors.

He spoke as the Society prepared to hold its 43rd National Solar Energy Conference in Abuja, with stakeholders expected to explore strategies for accelerating solar energy adoption and strengthening Nigeria’s renewable energy sector.

According to him, the SESN was established in the early 1980s to promote advocacy and research, advance renewable energy technology, engage governments and industry developers on policy, and help bridge financing gaps through partnerships with development agencies and members of the Society.

Akpoyibo said the conference would bring together manufacturers in the renewable energy industry, climate finance experts, women and young people to exchange ideas, share knowledge and discuss developments capable of accelerating the growth of the sector.

He added that discussions would also address the quality of solar equipment imported into the country, the need for standardisation, and ways of distinguishing genuine products from counterfeit ones.

 

The SESN president identified capacity building as a major focus of the conference, noting that improved technical knowledge and skills were necessary for Nigerians to benefit from available renewable energy financing opportunities.

He explained that young entrepreneurs who lacked the collateral required to access grants and other forms of financing would be linked with investors willing to support their initiatives.

Akpoyibo also announced that several Nigerians recognised for their contributions to renewable energy development would be conferred with the Fellowship of the Solar Energy Society of Nigeria.

Those listed for the honour include former First Lady Maryam Abacha; the Emir of Giade, HRM Mohammed Sabo Abdulkadir; the Olu of Warri, HRM Ogiame Atuwatse III; Prof. Omonigho Otanocha; Engr. Kelly Ochuko Egode; and Rev. Mrs Joan Agboro-Scheil, among others.

One of the nominees, Rev. Mrs Agboro-Scheil, founder and president of Germany-based Helping Hand for Africa (HH4A), said her organisation was committed to girl-child advocacy, humanitarian intervention and improving the living conditions of disadvantaged people.

She said HH4A had undertaken interventions to improve the welfare of indigent families in at least five local government areas of Delta State and other parts of Nigeria, while promoting sustainable development.

Agboro-Scheil expressed appreciation to the Society for recognising her contributions, describing the fellowship nomination as an encouragement to sustain her organisation’s humanitarian work.

She was nominated by the SESN South-South Coordinator and Chairman of its Subcommittee on Membership Mobilisation, Ambassador Gloria Umukotete.

Another nominee, Engr. Egode, founder of United Kingdom-based agricultural technology company OMFEONIX AGRITECH Limited, said the recognition would further encourage the development of innovative technologies aimed at improving agricultural productivity and food security.

Egode disclosed that his company was developing AquaECO, an intelligent control layer designed to support sustainable agriculture through artificial intelligence-enabled tools.

He said the technology, when fully developed, would help make agricultural production more sustainable and profitable while contributing to improved food security.

Meanwhile, Umukotete, who is also the Assistant Secretary-General of the Council for Renewable Energy of Nigeria (CREN), expressed confidence in the leadership of the SESN under Akpoyibo.

She said the current executive had demonstrated a strong commitment to advancing solar energy technology and expanding its adoption across Nigeria.

Umukotete described the 43rd National Solar Energy Conference, themed “Bridging Nigeria’s Solar Energy Gap: Accelerating Solar Energy Adoption for Sustainable Development,” as timely, given the need to expand access to affordable and sustainable energy.

She said the conference would provide an opportunity for stakeholders to examine practical solutions to the country’s solar energy challenges and develop strategies for accelerating the sector’s contribution to national development.