All On Impact Report Shows Clean Energy Investments Have Reached Over One Million Nigerians

All On, an impact investment company focused on expanding access to clean energy in Nigeria, has disclosed that more than one million Nigerians have experienced improved livelihoods through its clean energy interventions, according to its Impact Evaluation Report 2025.

The report shows that between 2018 and 2024, All On invested in over 50 clean energy companies while providing grants and technical assistance to more than 80 enterprises across the energy value chain. These interventions supported the connection of more than 230,000 households, businesses and public facilities to reliable and affordable energy solutions.

According to the report, All On’s investments not only expanded access to electricity but also strengthened the operational capacity of energy providers, improved service reliability and enhanced affordability for end users.

The evaluation highlights notable social and environmental benefits from the adoption of cleaner energy. About half of the supported households reported better air quality, improved safety and reduced noise pollution, leading to better health outcomes and an overall improvement in quality of life, alongside measurable environmental gains.

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Before All On commenced operations in 2016, nearly half of Nigeria’s population lacked access to electricity, while the sector faced an estimated 92 per cent annual funding gap. In response, the company adopted a risk-tolerant investment strategy built around catalytic capital, innovative financing instruments and ecosystem development to attract private sector participation and accelerate progress towards universal energy access.

The report attributes much of All On’s success to its holistic support model, which combines tailored due diligence, deep sector expertise and active engagement with industry stakeholders. This approach, the company said, has enabled it to deliver both commercial sustainability and long-term systemic impact.

Flagship initiatives, including the Demand Aggregation for Renewable Technology (DART) programme, were cited as key impact drivers. Through DART, supported businesses were able to cut procurement costs by as much as 50 per cent, allowing developers to scale operations faster while passing cost savings on to consumers.

Commenting on the findings, All On’s Chief Executive Officer, Caroline Eboumbou, said the report confirmed that the company’s strategy was producing tangible results.

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“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 recorded so far is encouraging, there is still much work to be done as we deepen our impact towards 2030.”

Beyond individual projects, the report noted that All On’s activities have contributed to wider market transformation. Since 2018, the number of active energy players in Nigeria has doubled, while total sector investment has almost tripled, rising from about $90 million to more than $250 million. Investee companies also reported improved visibility and credibility, helping them unlock additional funding and strategic partnerships.

Looking ahead, All On said it plans to scale proven models, strengthen local capacity and expand operations, particularly in underserved regions such as the Niger Delta, as it positions itself to drive the next phase of Nigeria’s clean energy transition.