LAGOS, March 10 (AGCNewsNet) – Nigeria has signed a $200 million agreement with WeLight, a pan-African Distributed Renewable Energy (DRE) company, to deploy hundreds of renewable mini grids, aiming to improve electricity access for millions in rural and peri-urban communities.

The World Bank and the African Development Bank are backing the project, which will develop and operate 400 mini grids and 50 MetroGrids across Nigeria’s rural areas. The initiative is expected to bring reliable electricity to 1.5 to 2 million people, fostering economic growth and reducing reliance on fossil fuels.

Nigeria, Africa’s most populous country, has been working to increase the renewable energy share of its electricity mix from 22% to 50%. The deal with WeLight aligns with the government's commitment to attracting private investments for this transition.

WeLight, supported by Axian Group, Sagemcom, and Norfund, signed a Memorandum of Understanding (MoU) with Nigeria’s Rural Electrification Agency (REA) on Monday. The REA is tasked with extending electricity access to millions of Nigerians currently off the grid.

“This MoU not only represents a leap toward providing clean electricity to millions in Nigeria but also supports WeLight’s ambition to become a truly pan-African company,” said Romain de Villeneuve, CEO of WeLight.

With unreliable electricity supply remaining a major challenge in Nigeria, this initiative is expected to boost local businesses, enhance productivity, and improve living standards in underserved regions.

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