UK to invest £10 million into low-carbon energy projects in Nigeria

The UK aims to invest £10 million - an equivalent of N5.6 billion naira to support
Nigeria's investment in clean energy projects through InfraCredit. The £10 million commitment will also be utilized to limit transaction risks, thereby supporting the mobilization of local institutional investment from pension funds, insurance firms, and others.

The investment will improve the access of over 85 million Nigerians to reliable energy, create a chance to improve their standard of living and create job opportunities. Also, the investment is expected to solidify the relationship between Nigeria and the UK.

Vicky Ford, the UK's Minister for Africa, who announced the £10 million investment plan, also noted that the UK would contribute £74 million (N41.6 billion) in financial support to female entrepreneurs across Nigeria to address the disproportionate challenges women entrepreneurs face.