All On's newly released Impact Evaluation Report, covering 2018–2024, demonstrates how strategic energy investments are reshaping lives, businesses, and communities across Nigeria. Since entering Nigeria’s off-grid energy sector in 2016, All On has deployed over $25 million in direct investments and more than $3.5 million in grants, supporting over 50 renewable energy businesses and enabling more than 230,000 energy connections.

The report, independently evaluated by Dalberg Advisors, indicates that All On’s approach extends beyond mere financial contributions. Through impact investing, enabling finance, venture building, and ecosystem support, All On has supported early-stage and growth-stage developers to mature and scale in Nigeria’s complex energy market, where roughly 90 million people previously lacked electricity.

Installed clean energy capacity linked to All On-supported businesses reached 25MW by 2024, a ten-fold increase compared to pre-investment levels for many developers. The report highlights tangible benefits for end-users, with 80% of households confirming that clean energy solutions now meet their basic needs. Households now spend approximately ₦10,000 monthly on energy, a significant reduction from the ₦44,750 spent by generator-dependent households.

The report also cites improvements in air quality, noise reduction, and enhanced safety, with 50% of households reporting better indoor air quality, reduced noise pollution, and enhanced security due to reliable lighting. Small businesses have also experienced significant gains, with over 85% reporting revenue growth after accessing reliable off-grid power, driven by longer operating hours and reduced downtime.

All On's willingness to take risks has been a key factor in its success. Several investees noted that All On was often the only institution willing to invest at ideation or early-commercial stages, particularly for locally manufactured energy solutions. Its financing terms, typically 3–5% cheaper than commercial bank rates and structured with flexible repayment and convertible options, have allowed businesses to grow sustainably.

A standout intervention is the Demand Aggregation for Renewable Technology (DART) programme. Through an $8.8 million contribution to a $20 million facility, All On helped developers reduce procurement costs by 25–50% between 2022 and 2024 by bundling equipment purchases.

Dr. Osagie Okunbor, All On’s founding chairman, emphasized that All On views energy access as a right, not a privilege, enabling communities to power essential services with dignity.

The Impact Report indicates that Nigeria’s off-grid energy market is maturing. Since 2018, sector investment has nearly tripled, and the number of active players has more than doubled. As Nigeria aims for universal energy access by 2030, All On is positioned as a catalyst for sustainable growth, resilience, and long-term development.