Financing a solar system through your own bank in Nigeria
How Nigerian businesses finance a solar-plus-storage system through the bank that already holds their account — who does what, and what the bank decides.
MGM Energy technical team · Commercial · 2026-09-21
A solar-plus-storage system is a capital asset, and Nigerian banks finance capital assets every day. MGM's partner-bank programme uses that existing machinery instead of inventing a new one: you finance the system through the bank that already knows your business.
How it works
The sequence is deliberately ordinary:
- Complete the Energy Exposure Assessment or request a package quote, so there is an engineered system and an itemised price to finance.
- Tell MGM which bank holds your main business account.
- MGM introduces you to that bank's designated contact and supplies the technical and commercial pack the bank needs.
- The bank appraises the application on its own criteria and, if approved, disburses against the contract.
- You repay the bank on the bank's terms.
What MGM does and does not do
MGM builds the system, administers the warranty and supplies the documentation the bank needs. MGM does not lend, does not guarantee approval, does not set rates or tenors, and charges nothing for the introduction. The credit decision is the bank's alone — which is why the arrangement works: your bank already understands your cash flow.
One thing the programme is not: 'free solar' or 'zero upfront'. You are buying an asset you will own outright, with a financing route beside it. Any offer that sounds like power with no capital commitment is a different business model — one MGM does not operate.