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By Adewale Sanyaolu
Baobab Microfinance Bank Nigeria has launched a new initiative aimed at expanding access to solar energy solutions for households and small and medium-sized enterprises (SMEs) in Lagos, as rising electricity costs continue to push businesses toward alternative power sources.
The bank unveiled the Green Finance Project, a capacity-building programme designed to train professionals who will guide households and SMEs in making financially viable and technically appropriate solar energy decisions. With unreliable grid electricity and increasing fuel prices placing pressure on businesses, many Lagos-based SMEs have begun exploring solar power as a more stable energy alternative. However, limited access to reliable advisory services has remained a major barrier, often resulting in poorly designed solar systems and unrealistic financing arrangements. Baobab said the Green Finance Project is intended to close this gap by training participants to become Green Energy and Finance Consultants, professionals equipped with the technical and financial expertise required to assess energy needs, evaluate affordability, and recommend sustainable solar solutions.
According to Eric Ntumba, Chief Executive Officer of Baobab Microfinance Bank Nigeria, access to solar energy must be supported by credible advisory structures to ensure long-term sustainability.
“Access to reliable solar energy starts with the right advice. Through the Green Finance Project, we are investing in people and building the skills required to guide households and SMEs toward solar solutions that are affordable, realistic, and aligned with their long-term needs,” Ntumba said.
Participants selected under the programme will undergo structured training and practical project development focused on designing solar solutions tailored to the needs of households and SMEs in Lagos.
The initiative combines energy technical knowledge with financial advisory training, enabling consultants to evaluate electricity consumption patterns, recommend suitable solar installations, and ensure that proposed solutions align with clients’ financial realities.
Project Manager Rolf Kreitel said the programme was developed to address the practical challenges many Lagos residents and businesses face when considering solar energy investments.
“This project comes from a simple conviction: real change only happens when energy decisions make financial sense, are technically understood, and are supported by advisors who are trained rigorously enough to understand the everyday realities people and small businesses face in Lagos,” Kreitel said.
The Green Finance Project aligns with Baobab Microfinance Bank’s Social Performance Management (SPM) framework, which focuses on responsible finance, client protection and sustainable social impact.
The programme is supported by the European Investment Bank (EIB) through the Financial Inclusion Fund, underscoring broader efforts to expand inclusive and sustainable energy access across Nigeria.
Baobab said recruitment for Green Energy and Finance Consultants will commence as part of the programme rollout, with additional details on training timelines and participation expected to be announced in the coming months.
Through the initiative, the bank said it aims to strengthen solar advisory capacity and support the adoption of solar energy solutions that are technically appropriate, financially viable, and sustainable for households and SMEs in Lagos.
