The Federal Government has unveiled a proposed $500 million solar energy investment to provide reliable electricity to Nigerian universities under the Tinubu Light Initiative.

The initiative was announced on Thursday during the launch of the programme organised by the National Board for Technology Incubation (NBTI) under the Federal Ministry of Science and Technology in Abuja.

Speaking at the event, Chief Executive Officer of Gigawatt Global, Yosef Abramowitz, said the renewable energy company is prepared to finance up to 90 per cent of the cost of solar power projects in participating universities. He explained that the funding would be subject to internationally bankable power purchase agreements and the attainment of agreed project milestones.

According to Abramowitz, the investment will support the installation of solar power plants capable of generating between 10 and 20 megawatts of electricity for each participating university.

He said the initiative is aimed at addressing the persistent electricity challenges facing tertiary institutions, many of which rely heavily on diesel generators and are forced to ration power due to rising energy costs.

Abramowitz added that the solar plants would generate more electricity than the universities require, allowing excess power to be supplied to neighbouring communities through prepaid metering systems.

“The plants will generate more electricity than the universities require, allowing surrounding communities to benefit from stable power while reducing dependence on diesel,” he said.

He noted that the programme would reduce energy costs, promote clean and sustainable electricity, and enable universities to channel more resources toward teaching, research and other academic activities.

Abramowitz also disclosed that local companies would be engaged to operate and maintain the facilities, while priority would be given to Nigerian manufacturers and service providers to maximise local economic benefits.

The proposed investment comes as many public universities continue to grapple with rising electricity costs, with several institutions spending billions of naira annually on diesel to power lecture halls, laboratories, hostels and research facilities.

The solar programme forms part of the Federal Government’s Tinubu Light Initiative, which aims to expand the adoption of renewable energy, provide clean electricity to one million micro, small and medium-sized enterprises (MSMEs), create jobs, and accelerate Nigeria’s transition to sustainable energy.