The National Agency for Science and Engineering Infrastructure (NASENI) has made its first investment in Powerstove, a Nigerian company specializing in the production of cookstoves and with extensive experience in carbon credit projects.
This investment is a significant step in NASENI’s ongoing efforts to combat global warming and promote a sustainable ecosystem through Nigerian companies dedicated to reducing carbon emissions.
NASENI will provide funding and technical support to Powerstove, allowing the company to increase its production from 100 thousand units to over one million units annually.
Khalil Suleiman Halilu, the Executive Vice Chairman/CEO of NASENI, stated that this expansion in production capacity will not only meet the rising demand for clean and efficient cookstoves but also help in reducing carbon emissions in Nigeria.
Powerstove is currently the largest local carbon credit project for a private company in Nigeria, with a value of 4.5 million carbon credits.
Halilu emphasized that this investment not only supports an impactful enterprise but also positions NASENI to benefit from carbon credit revenue, demonstrating its commitment to sustainable development.
This investment highlights NASENI’s dedication to proactively addressing climate change and fostering a resilient ecosystem of innovative Nigerian companies driving decarbonization efforts.
NASENI’s management is excited to see the positive impact of this partnership on Nigeria’s environment and economy.
Comment here