Progress Ajanaku
The Renewable Energy Association of Nigeria has renewed its call for Naira denominated concessionary financing, stronger policy support and deeper collaboration across the clean energy ecosystem as stakeholders concluded the 2025 Renewable Energy Conference in Abuja.
The two day event, funded by Heinrich Boell Stiftung, brought together senior government officials, development partners, financiers, manufacturers, academics, civil society organisations and private sector leaders under the theme, Stronger Together: Advancing Energy Access Through Policy, Finance and Inclusion.
In his opening address, the President of the Renewable Energy Association of Nigeria, Ayo Ademilua, said the conference was taking place at a time when Nigeria is under pressure to accelerate its clean energy transition. He explained that despite notable progress in project deployment, manufacturing, and advocacy, the country still faces a wide access gap.
He stated, “Nigeria has an estimated renewable energy capacity of about three point three gigawatts, which remains far below the nine gigawatt target set for the year twenty thirty. Millions of Nigerians still live without reliable electricity. These gaps are not setbacks. They are reminders that our work must intensify.”
Mr Ademilua highlighted key achievements recorded by the association in the past year, including stronger collaboration with the House of Representatives on climate action bills, the achievement of zero import duty on solar panels, faster customs assessment for renewable energy products through the advance ruling platform, and growing investments in local manufacturing.
He added that REAN members have continued to deploy mini grids, solar home systems and commercial renewable energy solutions across the country, while also establishing solar assembly plants in the north and south. These developments, he said, have boosted investor confidence and strengthened the domestic value chain.
A major highlight of the conference was the presentation of a policy brief on Naira based concessionary financing for the renewable energy sector, developed in partnership with Heinrich Boell Stiftung. The document outlines strategies to ease access to affordable capital, reduce exposure to foreign exchange risks and improve financing for small and medium enterprises, women led businesses and low income communities.
Speaking on behalf of the Federal Ministry of Power, the Minister of Power, Chief Adebayo Adelabu, commended REAN for its leadership in coordinating industry wide solutions. He described the conference theme as timely and aligned with national priorities.
“The Ministry recognises the critical role that private sector leadership, financing institutions and community based solutions play in achieving our national energy transition goals. Together, we can accelerate sustainable mini grids, strengthen local capacity and support small businesses and underserved communities in adopting clean energy solutions,” he said.
Industry and development partners also delivered key messages. The Central Bank Governor, Olayemi Cardoso, representatives from the European Union, the Energy Commission of Nigeria, NASENI, SMEDAN, the World Bank, and leading private sector actors all underscored the need for stronger financing mechanisms, enhanced local manufacturing, improved skills development and better standardisation across the renewable energy value chain.
Panel discussions across the two days produced several recommendations. Experts noted that financing gaps persist largely because commercial banks lack a clear understanding of renewable energy business models. They stressed the importance of local currency financing, asset based lending, and simplified approval processes to unlock more affordable capital. Institutions such as the Development Bank of Nigeria emphasised the need for transparency, capacity building and strict monitoring to ensure efficient use of funds.
On scaling clean energy for small businesses and women entrepreneurs, participants called for solutions that are affordable, tailored to business needs and supported with strong awareness campaigns. They also highlighted the role of academic institutions in championing research that directly responds to Nigeria’s energy needs.
The final session on mini grid sustainability identified key challenges including weak technical standards, inadequate metering systems, gender exclusion, poor site selection and limited understanding of community energy needs. Stakeholders recommended improved standardisation, stronger oversight by the Rural Electrification Agency and prioritisation of projects that deliver real socioeconomic impact.
At a media briefing, Mr Ademilua reaffirmed REANs commitment to pushing for single digit interest loans, long term financing and risk sharing mechanisms that will make clean energy more affordable for households, farms, small businesses and industrial users. He also highlighted the REAN Powered SMEs project, a partnership with SMEDAN that will deploy renewable energy solutions to one thousand small businesses across the country using SMEDAN common facility centres.
He added that the REAN Certified Installers Campaign is strengthening workforce quality by promoting technical competence and consumer safety. This, he explained, is part of the association’s broader commitment to standardisation and improved service delivery.
As the conference concluded, REAN reiterated that Nigeria’s renewable energy transition is not only a technical challenge but a collective mission. The association thanked all its partners, including Heinrich Boell Stiftung, Longi, Vestwood, Benotek, IRS Green, Huawei, Alliance Power Generation Company, Nextier and others for their continuous support.
In its closing statement, the association noted that Nigeria stands at a defining moment where policy direction, financing innovation and inclusive implementation can unlock clean and reliable energy for millions of citizens. The statement affirmed that through collaboration, evidence based advocacy and sustained investment, the renewable energy sector can drive economic growth, expand access, and secure a more resilient energy future for the country.
