About the Energizing Economies Initiative
The Energizing Economies Initiative (EEI) is a Federal Government of Nigeria initiative implemented by the Rural Electrification Agency (REA) that aims to support the rapid deployment of off-grid electricity solutions to MSME’s in economic clusters (such as markets, shopping complexes and agricultural/industrial clusters), through private sector developers.
The Federal Government of Nigeria (FGN) launched the initiative in September 2017 as part of its wider Micro, Small, Medium Enterprise (MSMEs) programme.
Objectives of the Energizing Economies Initiative (EEI)
- The EEI seeks to increase energy access and economic growth by providing clean, reliable and affordable power to economic clusters across Nigeria; such as markets, shopping complexes and agricultural/industrial clusters.
- Promote efficient, clean, safe, cheaper and sustainable power to catchment areas that have high growth impact on the economy.
The objective of this project is to connect over 100,000 establishments in these clusters across the country at a relatively rapid pace, with 70% of these projects to be renewable energy based. This will directly or indirectly positively touch the lives of approximately 7 million people. As part of the wider EEI, over 340 economic clusters have already been identified across the country. The total estimated energy demand from these clusters is 3-4GW with a combined market opportunity of ~ USD 955M annually. It is also estimated that 70% of these projects will be based on renewable energy.
Projected impact of the EEI can be summarized in these four key projected outcomes:
- Job creation – over 2,500 jobs will be created.
- MSMEs empowerment – over 200,000 MSMEs will be transformed.
- Improved access to stable electricity – over 80,000 shops will receive clean, safe and reliable electricity by 2018.
- Reduced carbon emissions – Greenhouse carbon emissions will be reduced annually by 25,000 metric tonnes.