The Federal Government has announced new initiatives aimed at accelerating private-sector investment across renewable energy technologies, including solar, storage, small hydro, and green hydrogen.
The measures, coordinated through the Federal Ministry of Power and the Rural Electrification Agency (REA), are designed to broaden the pipeline of bankable projects available to local and international investors. They align with Nigeria's Energy Transition Plan (ETP) 2022 and the country's target of 30 GW of installed capacity by 2030, with renewables accounting for a growing share of the mix.
Under the framework, developers will be able to participate across utility-scale generation, interconnected and isolated mini-grids, commercial and industrial solar, and emerging green hydrogen ventures. Incentives such as Pioneer Status tax holidays, 100% foreign ownership under the NIPC Act, and streamlined NERC licensing are being highlighted to de-risk early-stage capital.
"These reforms are designed to give both local and international financiers the confidence to commit long-term capital to Nigeria's clean energy transition," said the Minister of Power.
A major anchor for the pipeline is the Distributed Access through Renewable Energy Scale-up (DARES) programme, backed by a US$750 million World Bank facility and implemented by the REA. The programme targets roughly 1,225 mini-grids, 465 MW of new generation capacity, and electricity access for 17.5 million beneficiaries across underserved communities.
Officials say the initiatives will be supported by transparent, sector-specific data published through the OSIP investment portal, giving investors a clearer view of electrification gaps, demand centres, and priority locations as Nigeria scales up its renewable energy ambitions.