Allgreen to invest $10bn in 80m clean cookstove rollout

Allgreen Energy NV has announced plans to invest $10bn in the rollout of 80 million clean cookstoves across Nigeria under a large-scale energy transition programme.

The investment was unveiled in Lagos during a media briefing organised by GreenPlinth Africa, where stakeholders also signed a manufacturing agreement for the first batch of 24 million cookstoves.

The agreement marks the commencement phase of the project, which is expected to be implemented in stages across the country.

President and Group Chief Executive Officer of GreenPlinth Africa, Dr Olawale Akinwumi, said the project is aimed at addressing Nigeria’s clean cooking deficit affecting millions of households.

Akinwumi said, “This project is not only about providing clean cooking systems; it is about transforming lives, improving health outcomes, and empowering women economically.”

He said the partnership with Allgreen Energy NV would accelerate access to clean cooking solutions and alternative energy sources for households.

He added that the project would also create employment opportunities across manufacturing, distribution, and maintenance segments of the value chain.

According to him, the initiative is structured to support Nigeria’s long-term environmental and energy transition goals.

He said the programme is being implemented under an “Agenda 2030” framework focused on achieving universal access to clean cooking solutions.

The Special Adviser to the Lagos State Governor on Climate Change and Circular Economy, Titilayo Oshodi, said pilot schemes had already demonstrated the viability of the project.

Oshodi said, “Beyond the data, the real impact is seen in the lives of women; faster cooking, less smoke, reduced stress, and more time for productive activities.”

She referenced a pilot project in Makoko where households reduced firewood consumption significantly after adopting clean cookstoves.

According to her, firewood usage dropped from about 10 kilogrammes daily to 1.37 kilogrammes of briquettes per household, representing over 85 per cent efficiency gains.

She added that the reduction also led to lower indoor air pollution levels in participating households.

Oshodi said the visible benefits of the intervention would encourage wider adoption across communities.

She added that carbon financing mechanisms could support the scaling of the initiative over time.

She said, “This transforms clean cooking from a social intervention into a bankable climate solution.”

The Group Chief Financial Officer of GreenPlinth Africa, Babatunde Aina, said the project builds on the company’s experience in carbon credit development.

He said the initiative draws from its Clean Development Mechanism framework, including earlier carbon credit projects implemented by the organisation.

Aina disclosed that each cookstove is expected to reduce carbon emissions by up to 15 metric tonnes annually.

He said the full deployment of 80 million cookstoves is expected to generate significant carbon emission reductions over the project period.

He added that the project would utilise blockchain-based systems to monitor emissions and ensure transparency in reporting and verification processes.

Aina said carbon credits generated from the initiative would be traded under global mechanisms, including frameworks aligned with the Paris Agreement.

He said projected revenues from carbon credit trading could reach up to $60bn annually over time, depending on market conditions.

He added that the project is expected to contribute to both environmental sustainability and economic development objectives.

Stakeholders at the event said the investment could stimulate industrial activity within Nigeria’s clean energy sector.

They noted that local manufacturing of cookstoves would support job creation and skills development.

The project is expected to move into full-scale production following the completion of initial manufacturing agreements.

Participants said the rollout would be carried out in phases to ensure effective distribution and adoption across households.

The initiative is also expected to reduce reliance on traditional biomass fuels such as firewood and charcoal.

Project representatives said this shift would help reduce deforestation and improve air quality in affected communities.

They added that the intervention aligns with global climate goals aimed at reducing greenhouse gas emissions.

The programme is also expected to support health outcomes by reducing exposure to smoke-related respiratory conditions.

Stakeholders said partnerships between public and private sector actors would be critical to the success of the rollout.

They emphasised the importance of logistics, financing, and community engagement in achieving widespread adoption.

The investment is positioned as one of the largest clean cooking initiatives in Africa, covering both technology deployment and infrastructure development.

Organisers said further phases of the project would include expanded production capacity and distribution networks.

The initiative is expected to support Nigeria’s broader energy transition agenda while addressing household energy challenges.

It is also projected to strengthen the country’s participation in global carbon markets through verified emission reductions.

Stakeholders expressed commitment to ensuring the successful implementation of the project across targeted regions.

They added that the initiative would be monitored continuously to ensure compliance with environmental and operational standards.

The rollout is expected to proceed alongside capacity-building programmes for local manufacturers and technicians involved in production and maintenance.

The project partners said the long-term goal is to achieve widespread adoption of clean cooking technologies across Nigeria.