Mr. Fyneface Dumnamene Fyneface, the Executive Director of YEAC Nigeria, announced the establishment of a new organization, YEAC-CEAD (YEAC Community Energy and Development Ltd/Gte). This organization will conduct community outreaches, provide education on solar and clean energy, and promote renewable energy as an alternative livelihood for youths previously involved in illegal crude oil activities.
YEAC-CEAD is recognized under Part B of the Companies and Allied Matters Act (CAMA) and is registered as a private company limited by guarantee, operating under the concept of “business and human rights.” The organization’s mission is to manage solar energy facilities funded through loans and donations, with proceeds from electricity sales used to establish similar projects in other communities.
Mr. Fyneface explained, “Initially, YEAC-Nigeria aimed to raise funds from donors to support the renewable energy project and offer it free of charge to the host communities. However, this funding model proved unsustainable, leading us to adopt a new approach aligned with YEAC-UK, focusing on both investment (business) and donations (human rights).”
He emphasized that communities benefiting from these projects would pay a nominal fee for electricity usage, as approved by the Nigeria Electricity Regulatory Commission (NERC) and other regulators. This revenue model ensures the sustainability of the projects by enabling loan repayments, facility maintenance, worker salaries, and the expansion of similar initiatives to other underserved areas.
With the project’s transformation into a “business and human rights” model, the non-profit YEAC-Nigeria could no longer manage the solar mini-grid electricity facilities. Consequently, a new organization that aligns with the project’s objectives and operates under CAMA 2020 Part B was necessary. This legal framework mandates that the company’s income and property be used exclusively to promote its objectives, with no portion distributed to its members.
YEAC-CEAD’s incorporation aims to promote specific objectives, engage in business activities, fulfill tax obligations, and reinvest net profits into furthering its mission. This structure allows the organization to receive donor funding while ensuring that profits support its activities rather than benefiting members or directors.
Mr. Fyneface articulated YEAC-CEAD’s vision: “Our goal is to foster communities that thrive in harmony with nature, free from the destructive impacts of pipeline vandalism, crude oil theft, artisanal refineries, and environmental pollution. We aim to achieve this by promoting alternative livelihood opportunities powered by clean, renewable, and sustainable energy solutions.”
He continued, “Our mission is to combat these issues by championing alternative livelihoods through clean energy solutions, particularly solar electricity for underserved areas. We will promote the productive use of clean energy, conduct research, and educate communities to build a sustainable future. The solar mini-grid facilities will reduce the reliance on illegally refined products, discourage artisanal refining and oil theft, and encourage the adoption of alternative, clean energy-powered livelihoods.”