Renewable energy firm Gigawatt Global has committed up to $500 million in project financing to develop solar power plants across Nigerian universities.
Chief Executive Officer Yoseph Abramowitz announced the initiative on Thursday at the NextGen Innovation Challenge 2026 National Showcase in Abuja, coinciding with the launch of the Federal Government’s Tinubu Light Initiative by the National Board for Technology Incubation (NBTI).
“We’re honoured to be able to present up to $500 million in project finance,” Abramowitz stated, noting that the funding would cover 90 per cent of project costs, contingent on internationally bankable power purchase agreements and agreed milestones.
The investment targets the chronic power shortages crippling Nigeria’s tertiary institutions, where many universities rely on expensive diesel generators and receive only three to five hours of grid electricity daily.
“How do you run a university in three, four or five hours? How do you not have internet because you don’t have electricity?” Abramowitz queried.
Each solar facility is expected to generate between 10 and 20 megawatts, sufficient to meet campus demands while producing surplus energy for distribution to neighbouring rural communities via prepaid metering systems.
“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,” the CEO added.
The project will prioritise local content, with solar panels, cables, mounting structures and maintenance services sourced domestically to create jobs and build capacity.
“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,” Abramowitz emphasised.
The Permanent Secretary of the Federal Ministry of Innovation, Science and Technology, Muktar Muhammad, reaffirmed the government’s dedication to innovation and clean energy policies, while NBTI Director-General Kazeem Kolawole Raji described the Tinubu Light Initiative as a vehicle to position Nigeria as a hub for creativity and entrepreneurship.
Industry stakeholders believe the combination of private investment and government policy could accelerate Nigeria’s transition to a knowledge-driven, sustainable economy.
