The Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL have launched a Green Finance Investment Facility (GFiF), a blended finance platform to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria.
The project aims to raise $188 million to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.
The initiative also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national effort to expand electricity access through decentralised renewable energy solutions.
Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner, more sustainable energy systems.
Speaking at the launch, the Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.
“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy,” he said.
Also speaking, Anthony Feyitimi, Senior Partner, Barton Heyman, 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.”
In his remarks, the Managing Director of the REA, Abba Aliyu, 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. Today’s launch 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,” he stated.
Dr Abba 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.
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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.
