From 2nd left to right: Managing Partner of Barton Heyman Limited, Olumide Lala, Managing Director of the REA, Abba Aliyu, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), Derek Chime, Senior Vice President and Divisional Head, Business Banking Group, FCMB, George Ogbonnaya at the launch of the $188m Green Finance Investment Facility (GFiF) recently
The Rural Electrification Agency (REA), in partnership with UK PACT, First City Monument Bank (FCMB), and ARM Harith Infrastructure Investment Limited (ARMHIIL), has launched a $188 million Green Finance Investment Facility (GFiF) aimed at accelerating distributed renewable energy deployment across Nigeria.
The initiative, unveiled in Lagos on May 7, 2026, is expected to finance 191 megawatts of distributed solar capacity targeted at households, businesses, and underserved communities nationwide. It also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national initiative focused on expanding electricity access through decentralised renewable energy systems.
The platform brings together financial institutions, renewable energy developers, policymakers, and development finance stakeholders to mobilise private and institutional capital for Nigeria’s growing clean energy market. Stakeholders described the facility as a major step toward reducing financing barriers, scaling energy access, and strengthening the country’s transition to sustainable energy systems.
Speaking at the launch, Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven financing model capable of unlocking private capital at scale for Nigeria’s energy transition. According to him, the platform is designed to support over one million Nigerians while creating a scalable framework that combines sovereign pipelines, results-based funding, and commercial financing to attract investment into distributed renewable energy infrastructure. He noted that the initiative represents the first step toward a broader ambition to mobilise $40 billion for 20 gigawatts of distributed renewable energy capacity in Nigeria.
Senior Partner at Barton Heyman, Anthony Feyitimi, said the initiative extends beyond clean energy, stressing its economic implications for businesses, supply chains, and communities dependent on reliable power. He explained that the blended finance structure was developed as a replicable platform capable of driving long-term investment into the sector.
Managing Director of the REA, Abba Aliyu, said the Green Finance Investment Facility directly addresses one of the sector’s most significant challenges — access to finance. He noted that the facility was pioneered by the agency to replace fragmented, project-based financing approaches with a scalable institutional framework capable of accelerating universal energy access in Nigeria.
Representing FCMB, Senior Vice President and Divisional Head of the Business Banking Group, George Ogbonnaya, highlighted the bank’s growing renewable energy portfolio, revealing that FCMB has committed ₦100 billion in debt financing under the DARES programme. He disclosed that the bank is currently supporting multiple mini-grid developers and has financed more than 42 mini-grid projects aimed at connecting over two million households across the country.
Other stakeholders at the launch called for stronger collaboration between government, financial institutions, and private developers to unlock more investment into renewable energy infrastructure.
Deputy Head of Mission at the British High Commission in Lagos, Simon Field, reaffirmed UK PACT’s commitment to strengthening green finance systems in Nigeria, while Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Lagos State Governor, stressed the importance of coordinated investment and policy support in expanding sustainable energy access.
Stakeholders noted that initiatives such as the Green Finance Investment Facility are critical to mobilising long-term capital, reducing investment risks, and accelerating the deployment of clean energy solutions capable of powering communities and supporting economic growth across Nigeria.
