Nigeria is allocating $300 million to develop green energy
The Nigeria Distributed Renewable Energy Fund, with a capital of $300 million, was officially launched in New York during the United Nations General Assembly.
The Fund is designed to combine public and private financing for renewable energy projects, with a focus on off‑grid power systems in areas underserved by traditional power grids.
The Fund’s co‑founders are the Nigeria Sovereign Investment Authority (NSIA) and the Africa50 investment fund of the African Development Bank. One of the Fund’s partners is also the World Bank, which made an initial contribution of $25 million.
VANGUARD NGR
