Industries in Nigeria seem eager to transit to cleaner energy and energy efficient systems, but funds may be an issue.
The United Nations Industrial Development Organisation (UNIDO) may however have secured $1bn from Global Environment Facility (GEF) to assist industries in the transition, thus eliciting need for capacity through bankable proposals to access the funds.
To overcome the challenge and get banks and other financiers to support the transition, trainings have been organized in different cities in Nigeria to build capacity among industry players, technical experts, and financial institutions on how to develop bankable business plans and create access to finance. The training took place around Nigeria with the last leg organized in Lagos days ago.
These were organized under the national Industrial Energy Performance and Resource-Efficient Cleaner Production Project framework.
Facilitated by Olumide Olawale, the Lagos training provided hands-on exposure to essential financial planning tools, business case design, and funding strategies. It featured extensive group work, stakeholder interaction, and practical case study exercises.
Insiders said participants applied theoretical knowledge to real-world energy efficiency challenges using the ‘GreenWeaves Textiles Limited’ case.
The strategy would involve programmatic approaches and promotion of innovation in clean technology solutions.
The Green Environment Facility (GEF)-UNIDO IEE & RECP project in Nigeria involved technical trainings around Nigeria with learning objective being to build participants’ capacity to develop practical, fundable business plans anchored on RECP/IEE methodologies; and to improve understanding of financial modeling, risk management, and investment readiness in the clean energy space.
The Lagos training also helped participants to strengthen the ability to frame and pitch bankable business cases to financial institutions and to foster alignment between technical, industrial, and financial sector stakeholders as well as equip participants with practical knowledge of financing opportunities and project preparation strategies.
Jacob Oladipo, the national project coordinator, welcomed all participants and gave an overview of the GEF-UNIDO IEE & RECP Project, emphasizing that the training was part of the project’s efforts to integrate financial viability into technical solutions and encourage industries to invest in sustainable energy practices.
Participants were drawn from industries, the expert base, and financial institutions said to be the three core beneficiary categories identified by the project. They looked forward to gaining insights into energy-efficient technologies and financial solutions; understanding how to develop a compelling business plan; learning how to reduce energy-related costs and improve sustainability; and exploring available funding windows and requirements for bankability.
Olawale, the facilitator, led in the review of key concepts around industrial energy efficiency and resource efficient cleaner production which provided a foundation for financial discussions.
He helped in business planning and corporate strategy phases, as well as preparing bankable business plan.
Day two of the training focused on practical application of the previous day’s content. Participants who talked to newsmen expressed satisfaction with the training highlighting the clarity and relevance of the business planning sessions, appreciation of the hands-on case study approach, but requested for extended time on financial modeling and post-training mentorship.
Key outcomes were said to include increased capacity of industry stakeholders to prepare bankable business cases, enhanced collaboration between financial institutions and clean energy stakeholders, improved understanding of project risk and mitigation planning, development of actionable draft plans that can be used to initiate funding proposals, and reinforced project visibility through media and participant engagement.
Suggestions were harvested to help improve future training especially about peculiarities of different cities where the training would be held.
