Bboxx Nigeria is preparing to scale its reach after gaining access to a $300 million World Bank-backed facility. The funding, channelled through the Nigeria Electrification Project under the Rural Electrification Agency (REA), is aimed at closing the country’s staggering electricity access gap.
According to Bboxx, the new support will help extend solar power solutions to the nearly 90 million Nigerians who currently lack reliable electricity. The firm, which operates as a tech-driven energy platform, plans to use the capital to push off-grid solar systems and appliances into underserved communities, especially rural households and small businesses.
“The Stand Alone Solar component is a game changer for the industry,” said Bboxx Nigeria Managing Director Ernest Akinlola in a statement to The Punch. He added that the company is “thrilled to leverage this funding to expand solar electricity and appliance adoption.”
Private Power, Public Impact
This isn’t Bboxx’s first foray into public-private solar projects. In 2022, the company successfully participated in a $75 million REA programme. Its track record, combined with this latest development, positions Bboxx as a leader in Nigeria’s evolving clean energy sector.
With over 40% of the Nigerian population still off-grid, the government is increasingly relying on private firms like Bboxx to bridge the energy gap. The World Bank’s Nigeria Electrification Project and REA represent one of the largest rural energy projects globally, emphasising renewable energy and private investment as central to its success.
“We deeply understand how access to electricity drives economic growth and fundamentally transforms lives,” Akinlola noted, reiterating the social and economic stakes of energy poverty.
Bboxx, which acquired PEG Africa in 2022, now serves more than 3.6 million people across 10 African markets. Its model combines consumer financing with scalable energy tech, supporting 11 of the 17 UN Sustainable Development Goals.
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