First Bank of Nigeria Limited Commits $9m to Renewable Energy, Expands ESG Drive Nationwide

As sustainability becomes a defining benchmark for corporate performance globally, First Bank of Nigeria Limited is reinforcing its position as a leader in responsible banking, committing significant capital and institutional reforms to environmental, social, and governance (ESG) priorities.

In 2025 alone, the bank invested over $9 million in solar home systems across Africa, expanding access to clean and affordable energy in underserved communities. The initiative forms part of a broader renewable energy drive that also saw FirstBank channel more than ₦15 billion into modular power plant projects, improving energy reliability and reducing dependence on fossil fuels.
Climate Action and Environmental Stewardship
FirstBank’s environmental commitment extends beyond energy financing. Through a three-year partnership with the Nigerian Conservation Foundation, the bank successfully planted 51,000 trees across Nigeria. The initiative is projected to absorb approximately 720 tonnes of carbon dioxide while supporting biodiversity preservation and ecosystem restoration.
Industry analysts say such climate-focused interventions are increasingly vital as financial institutions face growing pressure to align lending portfolios with global climate targets and sustainability disclosure standards.
Financial Inclusion and Youth Empowerment
On the social front, FirstBank has impacted over one million students with financial literacy training programmes designed to strengthen money management skills and long-term economic resilience.
The bank partnered with the CFA Society Nigeria to support the CFA Universities Ethics Challenge, reinforcing ethical leadership among undergraduates. It also played a major role in the 15th Junior Achievement Company of the Year Competition, where it presented the CEO Award to Team Mauritius (Plantura), highlighting its commitment to youth entrepreneurship and innovation.
Internally, FirstBank continues to promote workplace inclusion. Through its FirstBank Women Network, more than 2,000 female employees have benefited from leadership development programmes, advancing diversity at senior management levels.
Strengthening ESG Governance and Risk Oversight
Governance remains a core pillar of the bank’s sustainability architecture. Within the review year, FirstBank screened 340 corporate transactions valued at nearly ₦5 billion and $340 million for ESG and sustainability risks. This reflects deeper integration of environmental and social risk considerations into its credit framework and investment decision-making processes.
The bank’s performance earned it Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) award at the 2025 edition of the Euromoney Awards for Excellence — marking the second consecutive year it received the recognition.
Further demonstrating its climate governance leadership, FirstBank is a corporate member of the Climate Governance Initiative Nigeria, serving on both its Advisory Board and Steering Committee. The bank participated in the Directors’ Engagement Series and led early adoption of IFRS S1 and S2 sustainability disclosure standards, strengthening transparency and board-level climate oversight through its Board Risk Management Committee.
Sustainability as a Growth Strategy
Financial experts note that FirstBank’s approach underscores a growing shift in Nigeria’s banking sector — from profit-driven metrics alone to purpose-driven performance anchored on long-term value creation.
By integrating renewable energy financing, environmental conservation, financial inclusion, and governance reforms into its operations, FirstBank is demonstrating that sustainability is not merely a compliance requirement but a catalyst for innovation, resilience, and competitive advantage.
Looking ahead, the bank plans to expand renewable energy investments, deepen financial literacy outreach, and scale partnerships that promote sustainable business practices across Africa.
As regulatory scrutiny intensifies and investors increasingly prioritise ESG benchmarks, FirstBank’s multi-layered sustainability strategy signals a decisive commitment to building a more inclusive, climate-resilient, and economically stable future.

FirstBank accelerates sustainable growth with $9m solar investment, ₦15bn modular power support, 51,000 trees planted, and over one million students empowered through financial literacy programmes.