Bboxx Nigeria, a data-driven energy company, has secured access to a $300 million fund backed by the World Bank to expand solar power access for the nearly 90 million Nigerians who currently lack reliable electricity. The funding is part of the Nigeria Electrification Project under the Rural Electrification Agency and represents a major move toward bridging the country’s vast energy access gap.
Through this partnership, Bboxx and other solar developers will scale the delivery of off-grid solar systems and appliances to underserved rural households and small businesses. The initiative is expected to drive progress in closing Nigeria’s energy deficit, especially in areas where grid infrastructure is either weak or non-existent.
Describing the Stand-Alone Solar (SAS) component of the program as a “game changer,” Bboxx Nigeria’s Managing Director said the company is excited to leverage the funding to
expand solar electricity and appliance access across the country. This latest development follows Bboxx’s participation in a $75 million Rural Electrification Agency program in 2022.
“We are thrilled to leverage this funding to expand solar electricity and appliance adoption, targeting the 90 million Nigerians currently without access to reliable power,” he said, adding that access to electricity is key to driving economic growth and transforming lives.
Bboxx, which acquired solar company PEG Africa in 2022, now serves over 3.6 million people across 10 African countries. The company combines digital technology with consumer financing to deliver scalable clean energy solutions, supporting 11 of the 17 United Nations Sustainable Development Goals.
This new capital injection strengthens Bboxx’s position as a key player in Nigeria’s clean energy landscape, where over 40 percent of the population remains off the national grid. The federal government is increasingly turning to private-sector innovation to meet its electrification targets, and the SAS fund reflects growing confidence in solar energy as a long-term solution.
The World Bank’s Nigeria Electrification Project, implemented by the Rural Electrification Agency, is among the most ambitious efforts globally to drive rural electrification through renewable energy and private sector partnerships. Bboxx’s involvement reinforces the role of sustainable energy in transforming Nigeria’s energy future.
