Baobab Microfinance Bank Nigeria has launched its Green Finance Project as part of efforts to address the growing energy deficit and rising power costs affecting households and businesses in Lagos.
The initiative is a structured training and capacity-building programme designed to develop professionals who can guide Small and Medium-sized Enterprises and homeowners toward sustainable energy solutions.
With persistent grid instability and rising fuel prices affecting productivity, solar energy has increasingly become a necessity for many residents and businesses across Lagos.
However, the renewable energy market has often been hindered by a lack of adequate technical and financial guidance, which sometimes leads to poorly matched solar installations and unsustainable outcomes for consumers.
According to the bank, the Green Finance Project aims to tackle these challenges by training a new group of Green Energy and Finance Consultants.
These consultants will be equipped with both technical expertise and financial literacy to ensure that solar investments are not only technically viable but also economically practical for customers.
Speaking on the initiative, the Chief Executive Officer of Baobab Microfinance Bank Nigeria, Eric Ntumba, said the programme is designed to help individuals and businesses make informed energy decisions.
“Access to reliable solar energy starts with the right advice. Through the Green Finance Project, we are investing in people and building the skills required to guide households and SMEs toward solar solutions that are affordable, realistic, and aligned with their long-term needs,” he said.
The programme’s rollout includes an active recruitment phase for consultants who will undergo rigorous training tailored to the specific energy landscape of Lagos.
According to the bank, the initiative is also intended to strengthen trust in the renewable energy sector by ensuring that advisory services focus on the long-term interests of clients rather than short-term sales.
Project Manager of the initiative, Rolf Kreitel, highlighted the philosophy behind the programme.
“This project comes from a simple conviction: real change only happens when energy decisions make financial sense, are technically understood, and are supported by advisors who are trained rigorously enough to understand the everyday realities people and small businesses face in Lagos,” he said.
The project is backed by the European Investment Bank through its Financial Inclusion Fund, reflecting its alignment with global sustainability goals and the bank’s Social Performance Management framework focused on responsible finance and client protection.
Baobab Nigeria believes that by focusing on human capacity and technical guidance rather than just equipment, the initiative will improve the quality of solar energy adoption across Lagos and support a more sustainable financial future for households and businesses.
