Nigerian universities struggling with chronic power outages are set to benefit from a proposed $500 million solar power investment.
The announcement was made at the launch of the Tinubu Light Initiative on Thursday in Abuja.
The initiative was organised by the National Board for Technology Incubation under the Federal Ministry of Science and Technology.
Yosef Abramowitz, CEO of renewable energy firm Gigawatt Global, said the company would provide up to $500 million in project financing.
The funding will cover as much as 90 per cent of the cost of university-based solar projects.
“We’re honoured to be able to present up to $500 million in project finance,” Abramowitz said.
“That will represent 90 per cent financing for solar power plants at universities, which will also anchor power supply to the rural communities surrounding them.”
Many Nigerian universities currently depend on costly diesel-powered generators.
Campuses often have electricity for only a few hours daily.
“How do you run a university in three, four or five hours?” Abramowitz asked.
“How do you not have internet because you don’t have electricity?”
Each university solar installation is expected to generate between 10 and 20 megawatts of electricity.
That is enough to meet campus energy demand while supplying excess power to neighbouring rural communities.
“The plants will produce more power than the universities need,” he explained.
“The surplus electricity will be supplied to the surrounding communities through prepaid metering systems, helping to expand access to reliable electricity.”
The initiative will significantly reduce universities’ dependence on diesel while lowering electricity costs.
“We want to bring down your costs, increase the amount of energy, make it green and sustainable, and empower the communities around each of these universities,” Abramowitz said.
He said the company was committed to ensuring the projects deliver broad economic benefits by prioritising local manufacturing.
“We’re going to buy our panels in Nigeria. We’re going to buy our solar racking in Nigeria. We’re going to buy our cables in Nigeria.”
“The idea is to keep as many of the jobs locally, both for operations and maintenance and for the hardware to be made in Nigeria.”
Local companies will be responsible for operating and maintaining the facilities.
That improves long-term reliability, reduces costs and ensures the benefits remain in Nigeria.
“When universities spend less on energy, they can invest more in education, research and innovation,” Abramowitz added.
“Reliable, clean electricity is essential for building world-class institutions.”
The announcement comes as many federal universities spend billions of naira annually on diesel.
Rising energy costs are threatening academic activities across the country.
Some institutions have been forced to ration electricity supply and increase utility charges for students.
The Tinubu Light Initiative aims to provide clean energy to one million micro, small and medium enterprises.
It is part of the Federal Government’s broader drive to expand renewable energy adoption across Nigeria.
Digital Operations Manager at The Students Forum Nigeria.
