The Rural Electrification Agency (REA) disbursed ₦7.95 billion to Havenhill for equipment to support four mini-grid projects in Taraba, Kwara, and Kogi States. An additional ₦1.056 billion was released to Faraday & Otstred Limited for mini-grid deployments across three sites in Niger State. These disbursements follow earlier allocations of ₦7.4 billion to Ventura Logistics Services and ₦3.2 billion to Zanoplus. The funding is part of the Distributed Access through Renewable Energy Scale-up (DARES) program's Performance-Based Grant (PBG) framework, enabled by a ₦100 billion Memorandum of Understanding with Lotus Bank.
REA Managing Director Dr Abba Aliyu stated, "What is particularly encouraging here is the consistency; this is not a one-off. It is a pattern of capital being deployed, projects moving forward, and confidence in the system continuing to grow." He emphasized that local developers now have better access to financing and equipment, accelerating power delivery to underserved communities. The REA says the momentum reflects growing confidence in Nigeria's renewable energy market.
Dr Abba Aliyu's emphasis on consistent funding reveals a shift in how renewable energy projects are financed in Nigeria. With over ₦20 billion disbursed recently to multiple firms under a structured grant framework, the REA is proving that local capital—backed by Nigerian institutions like Lotus Bank—can drive rural electrification. This reduces reliance on foreign aid and strengthens domestic ownership of energy infrastructure. For Nigerians in off-grid communities, it could mean more reliable power—if execution keeps pace with ambition.
