|DIAMOND SPONSOR /// ALL ON|
|All On Partnerships for Energy Access (All On) is an independent, not-for-profit organisation that collaborates with other donors and implementing partners to facilitate increasing access to energy in un-served and under-served communities across Nigeria. All On is contributing to building Nigeria’s market for off-grid renewable energy solutions, and partnerships are at the core of its approach. Its dynamic approach combines investment, technical support and market development activities to unlock access to energy in Nigeria.|
|All On Website|
Nigeria’s industrialization ambition is caught up in a complex web. At the center of the numerous challenges that stall economic growth and development in Nigeria is the extremely poor level of energy access. The energy needed to support quality health care delivery, improved education and better farming practices is simply absent. With millions of households and businesses getting less than 4 hours of electricity per day, Nigeria is in urgent need of every help it can summon.
A Lagos-based Nigerian company – All On - has emerged to advocate energy access initiatives in Nigeria. All On Partnerships for Energy Access Limited by Guarantee (“All On”) is an independent, not-for-profit company established to act as a catalyst in the growth of Nigeria’s market for sustainable off-grid energy solutions. All On is led by its CEO, Dr. Wiebe Boer who joined the team from Boston Consulting Group, Ekaete Okoro (Manager for External Affairs and Strategic Partnerships), Florence Okoli (Manager for Programs and Investments) and Osayuki Eguasa (Finance Manager).
The company’s mission “is to stimulate the development of collaborative partnerships and innovative solutions that facilitate increased access to affordable, reliable and sustainable energy sources in Nigeria.” They will provide targeted investments and technical support to energy access companies in the private and non-governmental sectors and will also engage in broader market-building activities such as research and advocacy.
It is imperative from the above mission that All On is committed to helping Nigeria attain Sustainable Development Goal 7 (SDG7 - to ensure access to affordable, reliable, sustainable and modern energy for all), which is arguably a tall order. The advocacy for a shift to renewables, especially “renewable off grid power” as a faster means of electrifying Nigeria, is now receiving greater attention. However, new forms of partnership within the private sector and between private and public sectors will be required to make it happen. The level of support needed to take electricity to rural communities in Nigeria - for example - spans across the financial and technical needs of power companies.
All On is poised to bring several stakeholders in the sector together within a new and more efficient partnership framework that will have greater impact. As an energy market with huge potential, Nigeria has received strategic interests from several stakeholders; including foreign investors and development institutions such as the German Gesellschaft für Internationale Zusammenarbeit (GIZ), the UK Department For International Development (DfID) and African Development Bank (AfDB). All On hopes to leverage existing progress in the energy access space; the company is “looking for partners who are willing and can provide targeted financial support in the form of tactical grants, working capital, equity, quasi equity, etc., to entrepreneurs to develop and test a range of interventions at small scale, and subsequently bring the most promising solutions to scale.” All On is also looking for partners to co-invest in knowledge to drive improved market data; provide support for the development of a full ecosystem of solution providers/market enablers; as well as thought leadership for effective policy formulation.
Considering that some initiatives and programs in the Nigerian energy sector have failed to deliver the expected impacts, it is critical that entities like All On, who are looking to help accelerate energy access in Nigeria, will craft and deploy viable models and strategies with clear means of measuring its impacts. The company says its models and strategies are already tailored for impact. “All On’s dynamic, multi-faceted approach combines investment, technical support and support for market development.”
At a time when some skeptics are advocating for a public and private sector paradigm shift in the approach to energy crisis in Nigeria, organizations like All On will undoubtedly help to create or nurture the required innovation in approach. Some of its major focus areas include:
- Impact Investing: Providing financial and technical support to unlock constraints to growth and help energy firms to achieve scale and deploy sustainable solutions towards achieving All On’s objectives of sustainable impact.
- Innovation Hub: Providing access to funding and technical support to early-stage energy firms to promote and test innovative technologies and business models in Nigeria.
- Collaboration Platform: Engaging in broader market development activities and facilitating the building of relationships to enhance an ecosystem for access to energy solutions in Nigeria.
With respect to All On’s “Impact Investing” objective, there has been (in the last five years) measurable growth of funding focused on expanding energy access in sub-Saharan African countries, including Nigeria, without commensurate growth in real energy access. The slow pace of deal flows is being blamed on project’s poor bankability, foreign exchange crises and policy flip-flops. How does All On hope to make distinct impacts in this market? The company “will deploy financial instruments that meet the needs of its partners by facilitating their ability to deploy their solutions to the market. In this regard, a key strength of All On will be the flexibility of the instruments it deploys. Recognizing that companies require different financing instruments (equity, debt, working capital financing, grants etc.), depending on their stage of maturity. All On is willing to structure its investments in due consideration of this.” All On will deploy patient capital and catalyze the off grid sector by being a key contributor to investment capital solutions that lowers investees cost of capital.
This approach is obviously inspiring since early stage capital is one of the hurdles limiting the rapid growth of small and medium sized power companies especially off-grid solar firms in Nigeria. Consequently, the Nigerian energy market is poised to receive a boost from All On’s activities. All On also believes that its approach to expanding energy access in Nigeria is novel and will deliver real values. This is critical, since the ultimate goal of all programs and policies in the Nigerian energy sector is to help deliver (directly and demonstrably) higher levels of energy access that has for so long eluded the ordinary Nigerian.
All On is the proud Diamond Sponsor of the conference The Solar Future Nigeria, taking place on 25 and 26 April in Lagos. Don’t miss the opportunity to meet with the All On team during the leading solar event that focuses exclusively on the exciting and evolving Nigerian solar market.