INNOVATIVE ENTREPRENEURSHIP AS A CATALYST FOR SUSTAINABLE RENEWABLE ENERGY DEVELOPMENT AND CAPACITY BUILDING IN NIGERIA'S EMERGING ECONOMIES

By O. Azubuike &A. S. Sunju

Abstract: Nigeria continues to face substantial electricity-access and reliability challenges, creating a need for decentralized and sustainable energy solutions. This paper examines the role of innovative entrepreneurship in advancing renewable energy development and capacity building in Nigeria. The paper adopts a critical narrative review approach, drawing on relevant policy documents, development reports and scholarly literature on decentralized renewable energy, entrepreneurship, skills development and energy access. The review indicates that entrepreneurial activity can contribute to renewable energy development through innovative business models, localized technological adaptation, productive-use applications, private sector led mini grid deployment and enterprise based skills development. Evidence from Nigeria's electrification programmes also shows the practical importance of private-sector participation in the deployment of solar mini-grids and standalone solar systems. However, the expansion of renewable energy enterprises remains constrained by financing requirements, regulatory and institutional challenges, infrastructure limitations, affordability and shortages of appropriately skilled personnel. The paper argues that entrepreneurship should be considered alongside technology, finance, regulation and human-capital development in Nigeria's energy transition strategy. It recommends improved access to patient and risk sharing finance, coherent regulation, support for local renewable energy supply chains, stronger partnerships between renewable energy enterprises and technical and vocational institutions, and consumer oriented financing and awareness programmes. These measures can strengthen the capacity of enterprises to expand clean energy access while contributing to employment, technical skills development and inclusive economic development.
Keywords: Innovative Entrepreneurship; Renewable Energy; Energy Access; Capacity Building and Mini-Grids