The National Agency for Science and Engineering Infrastructure (NASENI) has made a significant investment in Powerstove, a Nigerian company known for its innovative cookstove production and carbon credit initiatives. This investment marks NASENI’s first foray into supporting enterprises focused on combating global warming and promoting sustainability within Nigeria.
Segun Ayeoyenikan, NASENI’s Director of Information, announced that the agency will provide Powerstove with both growth capital and technical assistance. This support will enable Powerstove to increase its production capacity from 100,000 units to over 1 million units annually. “This scaling is expected to have a substantial impact on Nigeria’s carbon footprint and contribute to the country’s transition to a more sustainable energy landscape,” Ayeoyenikan stated.
Powerstove’s cookstoves are designed to be clean and efficient, addressing both environmental and health issues associated with traditional cooking methods. The increased production capacity will help meet the growing demand for these cookstoves, significantly reducing carbon emissions across Nigeria.
Khalil Halilu, NASENI’s Executive Vice Chairman, emphasized the broader benefits of this investment. “With this investment, NASENI is not only supporting an impact-driven enterprise but also positioning itself to benefit from carbon credit revenue, thereby reinforcing its commitment to sustainable development,” Halilu explained.
This investment highlights NASENI’s proactive approach to addressing climate change and building a resilient, sustainable ecosystem. By supporting innovative Nigerian companies like Powerstove, NASENI aims to drive significant decarbonisation efforts and promote sustainable development across the nation.
