Nigeria is intensifying its electrification program through strategic alliances between the federal government and local administrations. The Rural Electrification Agency (REA) recently concluded a significant agreement with Lagos authorities. This collaboration aims to expand access to clean and renewable energy in underserved regions of the state.
The partnership between the REA and Lagos State involves two major initiatives. The first initiative aims to strengthen the implementation of solar systems within rural communities, providing a reliable energy source. The second initiative involves installing photovoltaic panels on the roofs of public and private buildings.
The REA is redoubling its efforts across the country to improve access to electricity. In March 2025, the agency formalized contracts with ten renewable energy companies. These contracts aim to develop nearly 950 MW of production capacity in rural areas.
Additionally, the REA announced the creation of an asset management company dedicated to renewable energy. This company will have an initial capital of 500 million nairas, approximately 312,000 USD. The objective is to mobilize up to 1000 billion nairas, approximately 623,000 USD, to finance long-term sustainable projects.