Nigeria is Africa’s most populous country and third largest economy with growing energy needs that the national grid cannot meet fully or reliably. To increase access to electricity and economic opportunity and decrease fossil fuel dependency and greenhouse gas emissions, Nigeria seeks to exploit untapped potential in solar power and energy efficiency.
Source: World Bank
Nigeria has developed a CTF investment plan for an expected $250 million to contribute to national strategies for sustainable, low carbon development. Projects include bus-based urban transport improvements in the cities of Lagos, Kano, and Abuja, and a financing facility to catalyze private sector investment for renewable energy and energy efficiency across various industries.
CTF concessional financing is also supporting a pioneering project that aims to demonstrate utility-scale solar PV deployment using independent power producer structures under public-private partnerships, contribute to knowledge and technology transfer, and promote a conducive enabling environment for future investments.
Only 40% of urban and 10% of rural residents have access to electricity
|NAME||FUND||FUNDING (USD MILLION)||COFINANCING (USD MILLION)||MDB|
|Line of Credit for Renewable Energy and Energy Efficiency Projects||FUNDClean Technology Fund||COFINANCING (USD MILLION) 1.25||FUNDING (USD MILLION) 75.00||MDBAFDB|
|Utility-Scale Solar PV Program||FUNDClean Technology Fund||COFINANCING (USD MILLION) 29.30||FUNDING (USD MILLION) 100.00||MDBIFC|
The CIF programmatic approach to investment planning and implementation brings strategic value to CIF recipient countries. Working through a transparent, country-led process , the CIF fosters trust and collaboration among government ministries, civil society, indigenous peoples, private sector, and the MDBs that implement CIF funding . Together they translate Nationally Determined Contributions and other national development and climate strategies into an actionable CIF investment plan. Rather than one-off projects, the plan comprises long-term, sequenced investments that mutually reinforce each other and link to other critical activities, such as policy and regulatory reform and capacity building. Under national government leadership, CIF stakeholders continue to work together to implement the plan, continually assessing progress and sharing lessons learned along the way.