Nigerian universities battling persistent electricity shortages are set to benefit from a proposed $500 million investment in solar energy aimed at providing reliable power to campuses and surrounding communities.
The investment was unveiled on Thursday at the launch of the Tinubu Light Initiative, organised by the National Board for Technology Incubation under the Federal Ministry of Science and Technology in Abuja.
Speaking at the event, the Chief Executive Officer of Gigawatt Global, Yosef Abramowitz, said the renewable energy company was prepared to finance up to 90 per cent of the cost of solar power projects in participating universities, subject to internationally bankable power purchase agreements and the achievement of agreed project milestones.
According to him, the proposed funding would support the installation of solar plants capable of generating between 10 and 20 megawatts of electricity per university.
Abramowitz said the initiative was designed to tackle the worsening power crisis in tertiary institutions, many of which rely heavily on diesel generators and are forced to ration electricity because of soaring energy costs.
He noted that the projects would not only meet the electricity needs of universities but also supply excess power to neighbouring communities through prepaid metering systems, expanding access to reliable electricity beyond the campuses.
“The plants will generate more electricity than the universities require, allowing surrounding communities to benefit from stable power while reducing dependence on diesel,” he said.
He added that the initiative would lower energy costs, promote clean and sustainable power, and free up more resources for teaching, research and other academic activities.
Abramowitz also disclosed that local companies would be engaged to operate and maintain the facilities, while priority would be given to Nigerian manufacturers and service providers to maximise local economic benefits.
The proposed investment comes as many public universities continue to struggle with rising electricity costs, with several institutions spending billions of naira annually on diesel to power lecture halls, laboratories, hostels and research facilities.
The solar programme forms part of the Federal Government’s Tinubu Light Initiative, which seeks to expand renewable energy adoption, provide clean electricity to one million micro, small and medium-sized enterprises, create jobs and accelerate Nigeria’s transition to sustainable energy.
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