Nigeria

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.

INVESTING IN NIGERIA

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.

FACTS ABOUT NIGERIA

Only 40% of urban and 10% of rural residents have access to electricity

70%

of fuel requirements are imported although the country possesses vast oil and natural gas reserves

Projects in Nigeria

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  

TRANSFORMING VISION INTO ACTION

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.

Knowledge Center

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  • Sep 11, 2018
SREP Monitoring and Reporting Toolkit