The Federal Government, through the Rural Electrification Agency (REA), has strengthened its commitment to expanding nationwide energy access through a strategic partnership with First City Monument Bank (FCMB). On 19 June 2025, both institutions entered into a landmark N100 billion loan facility agreement to accelerate private sector-led renewable energy deployment, with a focus on underserved and unserved communities across Nigeria.
Building on the agreement, the Managing Director/Chief Executive Officer of the REA, Dr. Abba Aliyu, held a follow-up engagement with FCMB’s Managing Director and management team to advance implementation and expand the partnership’s long-term impact. Discussions emphasized supporting renewable energy developers, strengthening local manufacturing capacity, driving job creation, and aligning sustainable financing with national energy and industrialisation priorities to close Nigeria’s energy access gap at scale.