Senior Adviser at the ECOWAS Commission’s Regional Off-Grid Electricity Access Project (ROGEAP), El Hadji Sylla, has disclosed that Nigerian Small and Medium-sized Enterprises (SMEs) have benefited from $800,000 in grants, as part of efforts to boost participation in the off-grid solar sector.
He made this known while speaking at the ongoing Entrepreneurship Business Training under the Regional Off-Grid Electricity Access Project (ROGEAP) organised in collaboration with Ecobank Nigeria to strengthen the technical and financial capacity of solar-focused SMEs.
According to Sylla, ROGEAP operates two models of financing to support SMEs. The first is through a credit line facility, with $140 million available via the West African Development Bank (BOAD).
He explained that discussions are ongoing with Ecobank’s headquarters in Lomé to provide technical and financial assistance that will allow Ecobank to extend credit lines directly to SMEs operating within the solar energy value chain.
The second financing model, Sylla said, involves direct grants managed by ROGEAP’s project fund manager. Under this model, $800,000 has already been disbursed to Nigerian SMEs for initial project development, while results for the second phase of disbursement are ongoing, with Nigeria already receiving a substantial share.
He emphasised that the project’s first component, implemented by the ECOWAS Commission, focuses on developing a robust regional solar off-grid market. This includes training SMEs to enhance their capacity in both technical and financial aspects, enabling them to draft bankable projects eligible for financing from commercial institutions like Ecobank.
“This year, we have been engaging with Ecobank Nigeria to align the SME portfolio involved in solar businesses with the bank’s financing expectations,” Sylla said. “The aim is to ensure that the projects submitted are bankable and meet necessary standards for credit support.”
He noted that the ongoing two-day workshop is designed to offer both technical and financial support to SMEs, helping to better position them for growth in the renewable energy sector.
Managing Director of Ecobank Nigeria, Bolaji Lawal, emphasised the critical role small and medium-sized enterprises (SMEs) play in building a sustainable and inclusive economy.
Represented by the Regional Head for the Apapa-Isolo Region at Ecobank Nigeria Limited, Otega AghoghoOdjegna, he described SMEs as the “lifeblood of any economy,” noting that they account for more than 80 per cent of jobs across West Africa.
Despite their pivotal role, Lawal acknowledged that SMEs continue to grapple with significant barriers, including limited access to financing, capacity gaps, infrastructural challenges, and market entry difficulties.
