Allgreen Invests $10B for 80M Cookstoves in Nigeria

Allgreen Energi NV has pledged a $10 billion investment to support the rollout of 80 million clean cookstoves in Nigeria, marking one of the largest household energy transition investments in Africa. The announcement was made during a media briefing in Lagos, where Dr. Olawal Akinwumi, the President and Group Chief Executive Officer of Greenplinth Africa, emphasized the project's goal to tackle Nigeria's longstanding clean cooking deficit, which affects approximately 180 million people.

The initiative aims to provide clean cooking systems that will transform lives, improve health outcomes, and empower women economically. The first phase will begin with the manufacturing of 24 million cookstoves, with operations set to flag off in October 2024.

The project aligns with the 2030 agenda for universal access to clean cooking and includes a pilot project demonstrating significant benefits, such as reduced firewood usage and lower indoor air pollution. The project is expected to offset at least 1.2 billion tons of CO2 annually over a minimum of 15 years.