Chief Executive, SMEFUNDS, Dr. Femi Oye has appealed for support for startups that are poised to shape the future of solar power within Nigeria.
Highlighting the rapid evolution of solar technology, Oye stressed that the sector is driven by “rapid technological advancements and the ever-increasing urgency of addressing climate change.”
According to him, the necessity for continuous growth and innovation in this area is paramount.
He said: “The dynamic nature of the renewable energy landscape requires constant innovation and vigilance, making solar energy a top priority for governments, businesses, and individuals worldwide”.
He stated that SMEFUNDS is determined to accelerate the expansion of solar capacity by providing sustainable, long-term renewable energy solutions, while also ensuring minimal environmental impact and supporting local communities’ zero-carbon goals.
Oye elaborated on the organisations revolutionising the photovoltaics industry through an innovative model that significantly reduces customers’ electricity expenditure. He explained that the company “offers solar systems, storage units, enabling homeowners to become independent of electricity companies and reduce costs.”
Furthermore, he noted that his organisation prioritised “breakthrough innovation, customer-centric solutions, and excellence, aiming to shape the future of clean energy,” adding it’s ready to help individuals and organisations integrate solar panels into various devices to reduce fuel consumption and emissions.
Beyond energy provision, Oye views the renewable energy and green energy ecosystem as a powerful engine for job creation. He argued that “the expansion of green industrial manufacturing and agricultural production could become the engine of sustainable human development more broadly.” He reiterated the industry’s readiness to expand the nation’s renewable energy sector, assessing the opportunities and challenges in leveraging these new green industries to drive long-term employment, particularly among women, youth, and rural populations.
Within Nigeria’s nascent green energy ecosystem, Oye observed that “climate-smart and green technologies are emerging as a foundation of its innovation ecosystem of start-up MSMEs and the incubators and accelerators to support them.” He indicated that the innovation ecosystem has formed “the leading edge of the opportunity for MSMEs.” Addressing household consumption, he maintained that with its KIKE AI kitchen technology, SMEFUNDS has “done so much to enable Nigerians manage gas consumption in partnership with retail services providers. Its subsidiary, Kike Technologies, introduced “Kike Ai,” a pioneering kitchen application with the “ambitious objective of creating 1,000,000 jobs throughout the nation.” Oye envisions a future where a wider economic transformation will result in a greater scale of private sector employment, supporting retail services and sales start-ups initiatives for sustainable development and green industrialisation.
