An Inter-Agency Committee comprising made up of representatives of government ministries, donor agencies and bankers have called for the establishment of Nigeria Clean Energy Facility (NCEF) to fast track the deployment of clean energy technologies for the country.
The proposed NCEF according to the committee would operate as a public-private partnership arrangement aimed at improving the prospects for the development and use of clean energy in Nigeria. When established, it will be the dedicated vehicle for resource mobilisation and targeted financing, capacity building of government and private sector actors and catalysing market development and demand creation for clean energy.
The Nigeria Clean Energy Facility would mitigate the risks of bank lending for production, supply and use of clean energy, increase the capacities for sustainable supply of and use of clean energy finance; and organize and coordinate public and private sector resources for the development of clean energy.
It will also access and channel international clean energy finance and provide capacity building and technical assistance for clean energy value chain.