The Chief Executive Officer of All On, Caroline Eboumbou, has identified patient investment, technical support and strong partnerships as the key pillars needed to build a sustainable and inclusive energy market in Nigeria.
Speaking during All On’s 10th anniversary dinner and fireside chat, Eboumbou said access to capital alone is not enough to transform the country’s energy sector. She stressed that long-term success depends on combining catalytic financing with business development support, innovation, ecosystem development and strategic collaboration among public and private stakeholders.
According to her, Nigeria’s off-grid energy market has made significant progress over the past decade because of sustained investment in renewable energy businesses and the willingness of partners to work together in addressing the country’s electricity access challenges.
All On, an independent impact investment company established with seed funding from Shell, was created to support the growth of Nigeria’s off-grid energy sector by financing businesses that provide affordable, reliable and sustainable electricity to underserved households and small businesses. Over the past ten years, the organisation has evolved beyond being an investor to become a market builder supporting entrepreneurs, strengthening businesses and fostering innovation.
Eboumbou said the organisation’s investments and partnerships have positively impacted nearly two million Nigerians, demonstrating the importance of patient capital in expanding access to clean energy solutions. She noted that lasting impact can only be achieved when financing is combined with technical expertise and continuous collaboration across the renewable energy value chain.
Looking ahead, she reaffirmed All On’s commitment to mobilising more investment, supporting innovative businesses and strengthening partnerships that will accelerate access to clean and affordable electricity across Nigeria. She said the next phase of the organisation’s journey would focus on scaling its impact to reach even more communities lacking reliable power supply.
The anniversary event brought together representatives from government, development finance institutions, the private sector, academia and the renewable energy industry to review the progress made over the last decade and discuss strategies for achieving universal energy access.
During a fireside discussion, Eboumbou and the Chief Executive Officer of Sustainable Energy for All (SEforALL), Damilola Ogunbiyi, highlighted the importance of institutions that help develop markets, strengthen local businesses and attract long-term investment rather than focusing solely on financing individual projects. They agreed that stronger collaboration between governments, investors and development partners will be essential to expanding renewable energy across Nigeria and the wider African continent.
Representing the Lagos State Government, the Commissioner for Energy and Mineral Resources, Biodun Ogunleye, commended All On for its contributions to Nigeria’s renewable energy ecosystem and reaffirmed the state’s commitment to policies that encourage private sector investment in clean energy.
Industry stakeholders believe that increased investment, supportive government policies and stronger partnerships will be crucial to closing Nigeria’s electricity access gap, stimulating economic growth and accelerating the country’s transition to a more sustainable energy future.
SOURCE: DAILY TRUST
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