National Economy
Sunday, June 8, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home News

FG, UN To Leverage Pension Fund In $500m UN-Nigeria Renewable Energy Project

by `
3 months ago
in News
Reading Time: 2 mins read
Pension
Share on FacebookShare on TwitterShare on Telegram

You May Like

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

The federal government and the United Nations (UN) are considering a significant partnership to further develop renewable energy efficiency in the country.
Under the initiative, $500 million would be deployed to provide energy through mini grid projects across the country. Another area of the initiative is the investment of Nigerian Pension Fund to build the fund support system.
According to reports quoting Bloomberg, Nigeria, in partnership with a United Nations Agency, have established a $500m target to finance the roll-out of distributed renewable energy solutions such as solar home systems and mini-grids, as reported by Bloomberg.
The Fund, backed by the Nigerian Sovereign Investment Authority and the UN’s Sustainable Energy for All (SEforALL), will be managed by Africa50, an infrastructure investment platform founded by the African Development Bank (AfDB). Nigerian pension funds are also expected to invest in the initiative, SEforALL’s CEO Damilola Ogunbiyi told the publication.
She emphasised that the aim is to put together a fund that would be accessible and will be in local currency for local developers.
The Fund is part of the Mission 300 programme, led by the World Bank and AfDB, which seeks to provide electricity to 300 million people in Africa by 2030. The programme is expected to channel tens of billions of dollars into countries that meet specific criteria, including power utility reforms and regulatory adjustments to encourage private investment.
During the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, from 27 January to 28 January 2025, more than $8 billion in new funding commitments were secured.
This summit was hosted by Tanzania, the African Union, the AfDB, and the World Bank Group. Launched in April 2024, the initiative’s total estimated cost is $90bn.
The two banks have already pledged up to $48bn, with the possibility of additional contributions during the implementation phase.
Africa50 CEO Alain Ebobisse mentioned in an interview in January that while the fund was being planned, its size had yet to be finalised.
Separately, Africa50 is establishing a $200m fund, the Africa Solar Facility, to invest in distributed renewable energy projects across the continent, sponsored by the International Solar Alliance, the report said.
Mini-grids and solar home systems are viewed as crucial for delivering electricity to remote settlements and rural areas far from national grids. In sub-Saharan Africa, over 80% of the 570 million people without electricity access reside, including 86 million in Nigeria.“Nigeria and UN set up $500m fund for distributed renewable energy” was originally created and published by Power Technology by a GlobalData owned brand.

 

Tags: Pension Fund
ShareTweetShare
Previous Post

Strengthening Indigenous Companies Impact In Oil, Gas Business Through NOGICD Act

Next Post

Empowering Women In Workplace

ANOTHER GOOD READ

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers
News

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

5 days ago
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses
News

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

5 days ago
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch
News

FIRS Entering New Era Of Excellence, Trust — Adedeji

5 days ago
DBN Launches Green Declaration To Mobilise Green Finance
News

DBN Launches Green Declaration To Mobilise Green Finance

6 days ago
Unlocking Power Of Diaspora Remittances For Economic Growth
Business

Unlocking Power Of Diaspora Remittances For Economic Growth

6 days ago
Experts Debunk Myths, Promote Facts At Immunisation Webinar
News

Experts Debunk Myths, Promote Facts At Immunisation Webinar

6 days ago
Next Post
Empowering Women In Workplace

Empowering Women In Workplace

Most Recent

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

June 3, 2025
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

June 3, 2025
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch

FIRS Entering New Era Of Excellence, Trust — Adedeji

June 3, 2025
JUST-IN: Reps Pass Tax Reform Bills

N250bn Public Expenditures Unaccounted — Reps

June 3, 2025
5 Unicorns In 9 Years, Who Does That?

5 Unicorns In 9 Years, Who Does That?

June 2, 2025
Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

June 2, 2025
2026 World Cup Could Change Football Experience – Neymar

2026 World Cup Could Change Football Experience – Neymar

June 2, 2025
2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

June 2, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy