Federal Government launches $300 million off-grid power fund
The Federal Government has launched a $300 million fund to support off-grid electricity and renewable-energy projects across Nigeria. Punch Nigeria said the initiative was established through the Nigeria Sovereign Investment Authority and partners. The available material does not identify the partners, beneficiaries, timeline or allocation process.
The Federal Government has launched a $300 million fund intended to expand off-grid electricity and renewable-energy projects across Nigeria, Punch Nigeria reported. The initiative was established through the Nigeria Sovereign Investment Authority and partners, although the supplied material does not name those partners. It also does not provide details about how the money will be allocated, which projects will qualify or when funding will begin reaching recipients.
The launch is aimed at supporting off-grid power and renewable-energy development in the country. No figures on expected generating capacity, beneficiary communities or job creation were included in the available report.
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