All On Calls for Stronger Private Sector Investments in Nigeria's Renewable Energy Sector

Strategic Insights -

As Nigeria faces a wide energy access gap, All On, a Shell-funded impact investment company, has renewed its call for stronger private sector investments in the country's renewable energy sector. Speaking at the 2022 Lagos Chamber of Commerce and Industry International Business Conference and Expo, Ronald Adams, Chairman of All On and Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), emphasized the urgent need for action. Adams highlighted All On's achievements, including over 50 direct investments, more than $40 million committed, and clean energy access extended to over 1.2 million Nigerians in 190 underserved communities.

Key Takeaways:

  • All On, a Shell-funded impact investment company, renewed its call for stronger private sector investments in Nigeria's renewable energy sector.
  • The company's Chairman, Ronald Adams, emphasized the urgent need for action to address Nigeria's wide energy access gap.
  • All On has made over 50 direct investments, committed over $40 million, and extended clean energy access to over 1.2 million Nigerians in 190 underserved communities.
  • The company's initiatives, including Demand Aggregation for Renewable Technology (DART) and DARES programme, are reshaping Nigeria's energy landscape.
  • The Lagos Chamber of Commerce and Industry International Business Conference and Expo convened global business leaders, diplomats, and policymakers to explore opportunities across diverse sectors.
  • Notable participants included Dr. Olufemi Ogunyemi, MD of the Nigeria Export Processing Zones Authority, and ambassadors from Rwanda, Japan, and Germany.

Statistics:

  • Over 50 direct investments made by All On since its establishment in 2016.
  • Over $40 million committed by All On to support clean energy initiatives in Nigeria.
  • Clean energy access extended to over 1.2 million Nigerians in 190 underserved communities across Nigeria.
  • 190 underserved communities in Nigeria have benefited from All On's clean energy initiatives.

Sources:

  • Lagos Chamber of Commerce and Industry International Business Conference and Expo
  • All On
  • Shell Nigeria Exploration and Production Company (SNEPCo)
  • Nigeria Export Processing Zones Authority
  • International Financial Corporation (IFC)
  • International Monetary Fund (IMF)
  • Avon Medical Practice
  • Rwanda, Japan, Ireland, Gambia, Tanzania, and Germany Embassies