Nigeria has reached a major milestone in its drive for clean energy access.

The three hundred million dollar Nigeria Distributed Renewable Energy Fund, known as the DRE Fund, has been commercially launched.

The announcement was made on the sidelines of the United Nations General Assembly in New York.

The fund was unveiled by the Nigeria Sovereign Investment Authority, Africa50 and Sustainable Energy for All.

‎It is designed to scale up off-grid power, including mini-grids and standalone solar systems for homes and businesses not connected to the national grid.

‎Officials say the fund is aligned with Nigeria’s national development goals and supports Mission 300, an initiative to connect three hundred million Africans to electricity by 2030.

‎The launch marks the shift from planning to active investment.

Managing Director of NSIA, Aminu Umar-Sadiq, said the fund shows that Nigeria’s renewable energy market is investable, credible and ready to scale.

Africa50 Chief Executive Officer, Alain Ebobisse, said the partnership brings together NSIA’s local expertise, Africa50’s investment experience and global support to turn energy needs into opportunities.

The World Bank is a founding partner, with an initial twenty-five million dollars from its IDA arm.

The bank’s Managing Director for Operations, Anna Bjerde, said reliable and affordable energy is key to jobs and economic transformation in Africa.

‎Chief Executive Officer of SEforALL, Damilola Ogunbiyi, said the fund shows how country-led action can turn ambition into real connections.

Officials say the model can be replicated across Africa to attract private capital and expand clean energy access.

‎The fund will be co-managed by NSIA and Africa50.