All On’s Investments Light Up 1m Lives In Nigeria With Clean Energy

All On, a leading impact investment company dedicated to expanding clean energy access in Nigeria, has unveiled its Impact Evaluation Report 2025, which highlights how its strategic investments have transformed the lives of over one million Nigerians by delivering reliable, affordable, and sustainable energy solutions.

The report showed that during the 2018-2024 evaluation period, All On backed over 50 clean energy businesses with investments, grants, and technical assistance to more than 80 enterprises.

These interventions enabled the connection of over 230,000 households, businesses, and public facilities to reliable energy solutions, while strengthening the operational capacity of energy providers and enhancing affordability and service reliability for end-users.

The report highlighted significant social and environmental benefits arising from the adoption of cleaner energy. Half of supported households reported improved air quality, enhanced safety, and reduced noise pollution, contributing to better health outcomes and improved quality of life, alongside measurable environmental benefits.

Prior to the commencement of All On’s operations in 2016, nearly half of Nigeria’s population lacked access to electricity, and the sector faced an estimated annual funding gap of 92 per cent. In response, All On adopted a bold, risk-tolerant strategy—deploying catalytic capital, innovative financing instruments, and ecosystem-building initiatives to unlock private sector participation and drive progress toward universal energy access.

Central to these achievements is All On’s holistic support model, which combines rigorous, tailored due diligence, deep sector expertise, and active ecosystem engagement. This approach has positioned All On as a trusted partner capable of delivering both commercial viability and systemic impact.

Flagship initiatives such as the Demand Aggregation for Renewable Technology (DART) programme have further amplified results by reducing procurement costs for supported businesses by up to 50 per cent, enabling developers to scale faster and pass cost savings on to consumers.

Commenting on the report findings, the chief executive officer of All On, Caroline Eboumbou, noted: “This report confirms that our approach is delivering real results. By combining patient capital, technical assistance, and ecosystem support, we are enabling scalable and sustainable energy solutions for Nigeria’s unserved and underserved communities,” she said.

“While the progress to date is encouraging, our work is far from done. As we look toward 2030, we remain committed to deepening our impact and creating even more meaningful connections across Nigeria.”

Beyond individual investments, All On’s work has contributed to broader market transformation. Since 2018, the number of active energy players in Nigeria has doubled, while total sector investment has nearly tripled, growing from $90 million to over $250 million.

Investee companies report that All On’s support has enhanced their visibility and credibility, unlocking additional financing and partnerships.

Looking ahead, All On said it plans to scale proven models, strengthen local capacity, and expand its reach—particularly in underserved regions such as the Niger Delta.

With a strong track record and a clear roadmap, the organisation said it is well-positioned to drive the next phase of Nigeria’s clean energy transition.

All On Partnerships for Energy Access (All On), an independent impact investing company, was seeded by Shell to catalyse the growth of Nigeria’s off-grid energy market, providing affordable, reliable, and sustainable energy for low-income households and small businesses.

All On provides debt and equity funding, as well as non-financial support, to Nigerian energy companies that align with its mission of closing Nigeria’s access-to-energy gap through renewable energy solutions.