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From Charity Nwakaudu, Abuja
The Managing Director/CEO of the Rural Electrification Agency (REA), Dr. Abba Aliyu, has sounded the alarm over Nigeria’s deepening power crisis, revealing the country loses about $29 billion annually roughly two percent of GDPto unreliable electricity.
Aliyu, represented by REA’s Director of Legal Services, Ibrahim Hashim, spoke at the book presentation and fifth birthday of Dr. Cheryl Ikejiaku on financing Africa’s energy transition through interconnected mini-grids.
He described the situation as unacceptable, noting that over 19 million Nigerians still lack reliable power.
“Every generator, every candlelit study, every diesel-powered hospital—these are economic haemorrhages,” he said.
Aliyu stressed that financing not technology remains the biggest barrier, pointing to mini-grids as a practical, scalable solution already gaining traction. He added that REA is driving interventions to electrify underserved communities and boost economic activity.
In his remarks, Managing Director of Off-Grid Limited, Engr. Halis Mohammed, said the country’s energy transition remains largely theoretical for millions still in darkness.
“For many, the shift from darkness to light has not even happened,” he said.
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He noted that interconnected mini-grids have evolved into a proven, bankable pathway, with technology no longer the issue and regulation, though imperfect, still workable.
“The real challenge is financing how to scale beyond one-off projects and attract both patient and commercial capital,” he said.
Mohammed added that the financing gap dominates discussions with investors and institutions such as the World Bank and African Development Bank.
Describing the book as timely, he urged stakeholders to engage it “seriously, not ceremonially,” warning that current decisions will determine whether mini-grids scale or stall. He then declared the presentation open.
On her part, the author and energy finance expert, Dr. Cheryl Ikejiaku, said finance not policy is the true driver of development.
“Policy sets direction, but finance delivers results,” she said.
She noted that despite limited access, Nigerians continue to power homes, businesses and health facilities through small-scale solutions, especially mini-grids.
“These systems may be small, but they are transforming lives,” she added, urging collective action: “We are all catalysts. Real progress comes when we move from talk to implementation.”
