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NSIA, All On Collaborate to Improve Access to Renewable Energy in Nigeria

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By Tony Obiechina, Abuja  

The Nigeria Sovereign Investment Authority (NSIA) and All On, a Nigerian impact investor focused on renewable energy, are joining forces to bring light and opportunity to energy-deprived communities across the country.

They will achieve this by deploying Distributed Renewable Energy (DRE), a transformative approach that utilizes small-scale solutions like solar mini-grids and home systems to reach areas abandoned by traditional grid infrastructure.

Caroline Eboumbou – MD All On noted that DRE offers agility and efficiency, capable of illuminating remote villages and towns overlooked for far too long.

According to her, “Mini-grids alone hold the potential to empower millions of low-income households and small businesses, while generating a staggering $10 billion in annual revenue” – a tantalizing prospect for a nation grappling with energy challenges.

However, unlocking this bright future requires more than just technology. This is where All On’s Demand Aggregation for Renewable Technologies (DART) programme steps in. Launched in 2022, DART acts as a powerful catalyst, bringing together multiple DRE developers and negotiating advantageous prices for renewable energy components and secure financing from commercial lenders.

“In less than two years, DART has funded 12 companies, paving the way for over 40 mini-grids and 47,000 connections. Over 230,000 lives and businesses are set to be positively impacted, a testament to DRE’s transformative power” Eboumbou said.

One shining example is the Chito Community project in Benue State. This 350KW mini-grid, the largest isolated project in the state, will positively impact the lives of over 7,000 households and businesses, opening doors to new possibilities and economic growth.

The impact of DRE extends far beyond mere illumination. Clean, reliable energy fosters economic development, empowers entrepreneurship, and strengthens healthcare services. It empowers communities, particularly women, to participate meaningfully in the economy and shape their own destinies.

Recognizing the immense potential, Aminu Umar-Sadiq, NSIA’s MD/CEO, called for continued investment from development partners, providing both capital and technical assistance. He also challenged “the private sector to innovate and develop scalable, affordable DRE solutions”.

“We are committed to leading the charge in this collective effort,” he declares. “We are working closely with partners to address the barriers to DRE adoption and to scale up its deployment across Africa. We believe that DRE is not just a solution to energy poverty, but a catalyst for a more sustainable, equitable, and prosperous future.”

DRE is central to NSIA’s Renewable Investment Platform for Limitless Energy (RIPLE) which wants to achieve expanded energy access to the unserved and underserved segments of the population. RIPLE is expected to target displacement of diesel-powered generation for commercial and industrial consumers.

NSIA is actively demonstrating this commitment through initiatives like the Construction Finance Warehouse Facility (CFWF), established in collaboration with InfraCredit. This NGN10 billion facility unlocks long-term capital for sustainable greenfield infrastructure projects, attracting further investment through domestic capital markets.

However, Umar-Sadiq called for more enabling policies, financial incentives, and streamlined regulatory processes are essential for DRE to reach its full potential.

This commitment to DRE by NSIA and All On, marks a new dawn for energy-deprived communities in Nigeria. As DRE illuminates villages and towns across the country, it signifies more than just access to electricity – it represents a pathway to economic growth, empowerment, and a brighter future for millions.

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1 Dead, 15 Rescued as Lagos Boat Hits Submerged Shoreline Concrete

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The Lagos State Waterways Authority (LASWA) has confirmed that one person died  on Wednesday when a passenger ferry  collided with a submerged shoreline concrete.

Mrs Wuraola Alake of the Public Affairs Unit of LASWA, made the disclosure  in a statement on Wednesday in Lagos.

Alake said that the accident occurred around Power Line Corridor on the Lekki- Ikoyi Link Bridge.

She said that the mishap took place at 6.

50 p.m. when an Ibeshe-bound passenger ferry named T-Ben, which departed Addax Jetty,  had a collusion with the submerged shoreline concrete.

“Fifteen out of the 17 passengers said to be on board this boat have been rescued, with one casualty confirmed.

“Rescue effort is ongoing as at the time of issuing this statement.

“Officers from the Search and Rescue Unit of the Lagos State Waterways Authority and other volunteers are still at the location carrying out further rescue operations,” she said.

She said that officers from the Marine Unit of the Nigeria Police Force and  Lagos State Emergency Management Agency  were at  LASWA office to hand over the recovered female corpse to Lagos State Environmental Health Monitoring Unit.(NAN)

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Gowon Urges ECOWAS Leaders to Lift Sanctions on Mali, B’Faso, Others

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Former Nigerian Head of State, Gen. Yakubu Gowon, has called on ECOWAS Authority of Heads of State and Government, to lift sanctions on Mali, Burkina Faso and Niger Republic.

Gowon, who is one of the founding fathers of ECOWAS, made the call in an open letter to the Heads of State and the ECOWAS member states in Abuja on Wednesday evening.

The three countries, which were slammed with sanctions by the sub-regional politico-economic bloc following military takeovers in their respective countries, recently declared their decision to withdraw from the bloc.

Addressing a press conference at the ECOWAS Commission’s headquarters, Gowon, expressed concern that the decision by Burkina Faso, Mali and Niger Republic to exit ECOWAS threatened the unity of the bloc with far-reaching implications for ordinary citizens.

He said: “It saddens me to learn that ECOWAS is threatened with disunity following the announcement by Burkina Faso, Mali and Niger – three important Member States, of their intention to leave the Community.

“The impact of such a decision will have far-reaching implications for the ordinary citizens who have been the major beneficiaries of regional integration.

“The ECOWAS authorities should immediately consider the implementation of the lifting of all sanctions that have been imposed on Burkina Faso, Guinea, Mali and Niger.”

Gen. Gowon also urged the West African leaders, including leaders of the three exiting countries, to re-unite for peace and stability in the region.

“Therefore, on behalf of all the founding fathers of the Community and myself, I urge the ECOWAS Authority of Heads of State and Government, including the leaders of Burkina Faso, Mali and Niger, to put aside their differences and reunite for the peace, stability and prosperity of our sub-region,” he added.

Reports says that the former Nigerian leader also presented the open letter to the President of the ECOWAS Commission, Dr Omar Touray. (NAN)

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Senate to Investigate Cement Coys on Hike in Price

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The Senate has resolved to investigate the sudden hike in the price of cement by its producers in Nigeria.
The followed the adoption of a point of order by the Deputy Senate Leader, Sen. Lola Ashiru on the “Need to Urgently Address the Increase in Cement Price and other Building Materials in Nigeria,” at plenary on Wednesday.

Presenting the order, Ashiru urged the Senate to mandate its Committee on Industries to conduct an investigation into the activities of cement manufacturing industries operating in Nigeria.

This, he said was with a view to ascertain the reasons behind the price hike.

He also urged the Senate to mandate the Committee on Industries to ensure that cement manufacturing companies adhered strictly to fair market practice and desist from anti-competitive practice.

Ashiru said that the construction industry was vital to infrastructure development adding that the building industry heavily depended on cement and other building materials for its sustenance.

He said that the trend of a daily increase in the price of the product had hampered progress in various developmental endeavours across the country.

”This is because key building materials particularly cement and iron rod prices are now sold at prohibitive rates with cement and iron rod recently rising from N5, 500 per bag in Jan. 2024 to about N14, 000 and N8,500 to N17, 000 respectively,” he said.

He also said that the sudden price increase has had a detrimental impact on critical infrastructure, and housing in the country.
Ashiru said that the raw materials for cement were being sourced 100 per cent locally and not imported making the sudden surge in price suspicious and perplexing.

“Cognisant that affordable cement and other building materials are indispensable to national development, addressing the issue in time will be advantageous to the construction industry.

“This is because it will ensure the progress of constituency projects and strengthen national security by providing jobs and stability and improve the livelihood of Nigerians generally,” he said. (NAN)

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