Nigeria has signed a $200 million agreement with WeLight, a pan-African renewable energy company, to deploy hundreds of mini grids and bring reliable electricity to millions in rural communities.
The project, backed by the World Bank and the African Development Bank, aims to increase Nigeria’s renewable energy share from 22% to 50% and improve electricity access to an estimated 1.5 to 2 million people.
The deal is seen as a significant step towards Nigeria’s goal of boosting its renewable energy sector and securing financing from private investments.
