… initiative aligns with $40bn ambition to scale 20GW of clean energy deployment across Nigeria
Oredola Adeola
The Green Finance Investment Facility (GFiF), a blended finance platform, has announced plans to mobilise $188 million in private and institutional investments to support 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria, as part of a broader ambition to scale up $40 billion and 20 gigawatts of clean energy deployment.
The Rural Electrification Agency disclosed in a statement that the facility was officially launched on May 7, 2026, in Lagos to support the integration of distributed renewable energy infrastructure across Nigeria.
Advisors Reports gathered that the facility is being led by Barton Heyman Limited in partnership with the Rural Electrification Agency, UK PACT, First City Monument Bank, and ARMHIIL to drive implementation of distributed renewable energy infrastructure across Nigeria.
The initiative, according to the Rural Electrification Agency, also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, which is aimed at expanding electricity access through decentralised renewable energy solutions across Nigeria.
The platform, according to the agency, brings together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that will accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner and more sustainable energy systems.
Speaking at the launch, Olumide Lala, Managing Partner of Barton Heyman Limited, described the Green Finance Investment Facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.
He further stated that the facility represents direct support for over one million Nigerians and demonstrates that Nigeria’s distributed renewable energy sector can be financed using a private-sector framework leveraging sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level.
According to him, the initiative marks the initial step toward mobilising $40 billion to finance 20 gigawatts of distributed renewable energy in Nigeria.
Anthony Feyitimi, Senior Partner, Barton Heyman, in his comment said: “The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy.
“Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete.
“We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility.
“The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”
Abba Aliyu, Managing Director of the REA, in his comment said the initiative directly addresses one of the sector’s most pressing constraints, access to finance.
“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment.
“The launch of the initiative is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” the REA MD stated.
Aliyu further explained that the GFIF was pioneered by the REA as a long-term institutional framework designed to replace the fragmented, project-by-project financing models of the past with a scalable and sustainable funding ecosystem.
By establishing this formal financial architecture, the agency aims to provide developers with more reliable access to capital, accelerating the nation’s drive toward universal energy access.
Speaking on behalf of FCMB, George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.
“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed ₦100 billion in debt financing for DARES.
“Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers.
“We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities.
“This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.
He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.
Derek Chime, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.
Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.
Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.
Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.
The initiative is backed by a robust public-private partnership. While the REA anchors the project pipeline and results-based financing mechanisms, Barton Heyman leads the blended finance structuring.
By establishing this formal financial architecture, the agency aims to provide developers with more reliable access to capital, accelerating the nation’s drive toward universal energy access.
Speaking on behalf of FCMB, George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.
“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed ₦100 billion in debt financing for DARES.
Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers.
“We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities. This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.
He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.
Derek Chime, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.
Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.
Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.
Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.
The initiative is backed by a robust public-private partnership. While the REA anchors the project pipeline and results-based financing mechanisms, Barton Heyman leads the blended finance structuring.
