First City Monument Bank (FCMB), alongside Barton Heyman Limited, Rural Electrification Agency (REA), UK PACT and ARMHIIL, has launched the 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 facility aims to raise $188 million to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.
Additionally, the project backs the nationwide Distributed Access through Renewable Energy Scale-Up (DARES) programme, which aims to increase access to power using decentralised renewable energy sources.
The platform, which was introduced in Lagos on May 7, 2026, brought together players in development financing, policymakers, financial institutions, and renewable energy companies.
Its objective is to unleash financial options that facilitate Nigeria’s shift to cleaner, more sustainable energy systems, speed up energy availability, and close funding gaps.
According to Olumide Lala, managing partner of Barton Heyman Limited, who spoke at the unveiling, the facility is a market-driven strategy that may unlock private finance at scale for Nigeria’s energy transition.
More than a million Nigerians receive direct assistance from the Green Finance Investment Facility, which is more than just a finance arrangement.
A private-sector structure that uses commercial loans, results-based funding, and sovereign pipelines to draw in private money at the national level can be used to support Nigeria’s distributed renewable energy sector.
We’re starting the process of raising $40 billion to fund 20 gigawatts of distributed renewable energy,” he stated.
Also, Anthony Feyitimi, senior partner at Barton Heyman. Stated that “The Green Finance and Investment Facility is not simply about clean energy; it is about how Nigeria’s economy may benefit from distributed, dependable power.
In his words, “Every megawatt we fund is a community that can compete, a business that can run, and a supply chain that can work. We have developed a blended financing platform that unifies commercial capital, results-based funding, and sovereign pipelines into a single, reproducible facility. Our first $188 million step is the GFIF Pilot. The platform aims to generate 20 gigawatts and $40 billion. For Nigeria, we are constructing it in Nigeria.”
According to Abba Aliyu, Managing Director of the REA, the programme directly tackles one of the most critical issues facing the industry: financing availability.
“One of the primary obstacles to the implementation of renewable energy is access to financing, which the Green Finance Investment Facility can address.
“The launch today is the result of a strategic alliance established to guarantee that communities without dependable power have access to electricity. He said, “We are proud of what this facility represents for Nigeria’s energy future.”
George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking Group, spoke on behalf of FCMB and emphasised the bank’s growing involvement in inclusive infrastructure development and financing for renewable energy.
“As a first-time lender to numerous companies propelling the industry’s expansion, FCMB has made a name for itself as a top provider of finance for renewable energy.”
For DARES, we have committed ₦100 billion in debt funding. Under the DARES isolated mini-grid performance-based grant initiative, we are currently paying more than eight developers and finalising funding for an additional seven. In order to improve the standard of living in rural and peri-urban areas, we will keep assisting developers in scaling and achieving electrification goals.
This is in line with our mission to promote sustainable development in the areas we serve,” he stated.
In keeping with Nigeria’s national electrification goals, he also revealed that FCMB has funded over 42 mini-grid projects and is assisting initiatives to connect over 2 million households.
In order to increase investment in renewable energy infrastructure, Derek Chime, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), urged greater cooperation throughout the ecosystem.
Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reiterated UK PACT’s dedication to bolstering green finance systems and increasing Nigeria’s use of renewable energy.
In a bid to accelerate access to sustainable energy, Titilayo Oshodi, the Governor of Lagos State’s Special Advisor on Climate Change and Circular Economy, emphasised the significance of integrated investment, innovation, and policy assistance.
Millions of homes and businesses in Nigeria still lack a dependable power source, making access to electricity a major problem. Initiatives like GFiF are essential for raising long-term financing, lowering investment risk, and hastening the deployment of sustainable energy solutions to power communities around the country, according to stakeholders present at the launch.
