A financial services firm focused on supporting small and medium-sized enterprises has unveiled plans to disburse ₦65 billion in loans as part of its expansion into Abuja, with a clear focus on renewable energy projects.
The initiative aims to tackle the rising cost of power that limits SME growth by offering affordable financing for solar energy solutions. Abuja's vast landmass and strong solar potential make it an ideal launch point for this clean energy drive.
According to a senior executive, the goal is to boost SME productivity, reduce operational expenses, and enable year-round business operations through access to sustainable power.
Already active in Lagos, Ibadan, and Ogun, the institution has disbursed over ₦65 billion in loans across sectors including agribusiness, hospitality, education, manufacturing, and beauty.
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To support its clean energy push, the firm will collaborate with a newly introduced Energy-as-a-Service (EaaS) subsidiary, which will provide SMEs with solar installations, maintenance, and energy management, backed by flexible financing options.
The firm has reported strong credit performance in other regions—achieving 0% portfolio at risk in its first year in Ibadan—and aims to replicate this success in Abuja.
In the last nine months alone, more than ₦1.5 billion in loans were issued to SMEs through its Ibadan branch, reinforcing its commitment to Nigeria's growing entrepreneurial landscape.
