REA, FCMB seek innovation to accelerate renewable energy transition

Stakeholders have called for stronger collaboration, innovation, and targeted investment to accelerate Nigeria’s transition toward renewable energy and sustainable power access for all. They made this call during the two-day Nigeria Renewable Energy Innovation Forum (NREIF) organised by the Rural Electrification Agency (REA) in Abuja. The Vice President Kashim Shettima, in his remarks, underscored the […]

Stakeholders have called for stronger collaboration, innovation, and targeted investment to accelerate Nigeria’s transition toward renewable energy and sustainable power access for all.

They made this call during the two-day Nigeria Renewable Energy Innovation Forum (NREIF) organised by the Rural Electrification Agency (REA) in Abuja.

The Vice President Kashim Shettima, in his remarks, underscored the importance of private sector participation in driving the nation’s energy transition.

The REA’s Managing Director and CEO, Abba Aliyu noted that Africa should not be overlooked in global energy transition discussions.
He stressed that Nigeria’s abundant renewable resources, particularly solar, must translate into tangible industrial and economic gains.

 

The Divisional Head of Business Banking at First City Monument Bank (FCMB), George Ogbonnaya, highlighted the critical role of financial innovation and public-private collaboration in scaling renewable energy adoption.

 

“Nigeria’s renewable energy transition demands shared commitment. Unlocking over $400 million in investment will require strong government and private sector collaboration to expand access, accelerate local manufacturing, and strengthen energy infrastructure. At FCMB, financial innovation enables this collaboration and delivers reliable power to unserved and underserved communities,” he said.