What if Nigeria could turn the enormous amount spent on petrol, diesel and generators into reliable electricity for businesses, stronger rural economies and thousands of new opportunities? Energy experts say connecting renewable energy investments to productive activities could help move the country closer to that future.
At the inaugural Energy Transition Africa (ETA) 2026 Colloquium, held virtually on Thursday, October 15, 2026, experts called on Nigeria and other African nations to ensure that clean energy projects deliver tangible economic benefits for households, farmers, entrepreneurs and local industries.
Deputy Director of the Planning, Research and Development Department at Nigeria’s Rural Electrification Agency (REA), Dr Bala Tyoden, said Nigerians spent an estimated ₦16.5 trillion on petrol, diesel and generators to provide their own electricity in 2023.
Presenting an address prepared by the agency’s managing director, Tyoden explained that households and businesses were increasingly seeking alternatives to unreliable grid electricity and expensive fossil fuels.
However, he warned that the growing adoption of solar energy would not automatically transform the economy unless systems became more affordable, supported productive activities and remained functional over time.
One promising example is a mini-grid project in Namu, Plateau State, where electricity access has benefited women processing rice and cassava. The project demonstrates how reliable power can help small businesses improve productivity, strengthen agricultural value chains and support rural livelihoods.
Tyoden said renewable energy projects should be designed around the actual needs of local enterprises and farmers, with adequate maintenance and asset management arrangements to protect their long-term benefits.
He also disclosed that the REA was developing a proposed Renewable Asset Management Company to support the sustainability of renewable energy assets after existing private-sector agreements expire.
The wider discussion revealed additional opportunities for Nigeria. Executive Director of Governance and Sustainability at Sahara Group, Ejiro Gray, said energy investments must build local expertise, strengthen domestic suppliers and expand access to capital if they are to support industrial growth.
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Founder and Executive Director of Rabia Transitions, Dr Chantal Naidoo, estimated that Africa needed approximately $217 billion annually to finance renewable energy generation, distribution infrastructure and universal electricity access. She called for more grants, concessional financing and regional funding arrangements to ensure that communities benefit from the transition.
Other experts highlighted opportunities in solar-powered irrigation, clean cooking fuels, local equipment manufacturing and renewable energy projects for underserved coastal and riverine communities.
Damilola Olowookere of the PIND Foundation, for instance, pointed to opportunities to connect development funding for oil-producing communities with renewable energy developers to improve electricity access in underserved areas.
These proposals offer a practical path for Nigeria to connect clean energy with small-business growth, food security, lower dependence on self-generated electricity and new technical jobs.
For entrepreneurs, farmers and young professionals, the opportunity extends beyond installing solar panels. It includes equipment maintenance, electrical services, agricultural processing, clean cooking solutions and the development of local energy supply chains.
The experts stressed that reliable electricity, stronger distribution networks, affordable financing and community participation would be essential to achieving these benefits.
Their message at the colloquium was that Nigeria’s energy transition should be judged by the improvements it brings to people’s daily lives, not simply by the number of renewable energy projects completed.
By directing clean energy towards productive businesses and underserved communities, Nigeria could transform a costly electricity challenge into a stronger foundation for economic growth.
