Warning: getimagesize(https://media.energytimesonline.com/wp-content/uploads/2020/08/logo_n-removebg-preview-300x55.png): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/energytimes/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792
Thursday, June 24, 2021
Home Uncategorized FG launches ‘SOLAR POWER NAIJA’ a 5 million solar connection scheme to...

FG launches ‘SOLAR POWER NAIJA’ a 5 million solar connection scheme to off grid communities

- Advertisement -

Nigeria government in response to the COVID-19 pandemic, has launched solar connection Scheme.

The scheme which is part of the government’s  Economic Sustainability Plan (ESP), will roll out a 5 million new solar connections in off grid communities across Nigeria.

The program is expected to generate an additional N7 billion in tax revenues per annum and $10 million in import substitution.

The solar connection Scheme is a Federal government initiative whose objectives are to expand energy access to 25 million individuals, 5 million new connections through the provision of Solar Home Systems (SHS) or connection to a mini grid; increase local content in the off grid solar value chain and facilitate the growth of the local manufacturing and assembly industry as well as incentivize the creation of 250,000 new jobs in the energy sector.

The Solar Connection Intervention Facility with support of the Central Bank of Nigeria (CBN), is expected to complement government’s effort in providing affordable electricity to unserve rural communities through the provision of long-term low interest credit facilities to the Nigeria Electrification Project (NEP) pre-qualified SHS distributors and mini grid development companies.

This also include qualified home solar value chain players such as manufacturers and assemblers of solar components

“The Nigerian Government is committed to resolving the challenges and delivering the president’s objective to deliver efficient, stable, and reliable power to Nigerians and put Nigeria on the path to economic recovery.”- Vice President of the Federal Republic of Nigeria, Professor Yemi Osinbajo

The REA Managing Director, Ahmad Salihijo Ahmad, expressed optimism over the determination of the Federal Government to transform the power sector in accordance with its Next Level agenda. He stated that, “This is a testament to our dedication and commitment to scaling the off-grid solar market through provision of long term low interest credit facilities to the Nigeria Electrification Project (NEP) pre-qualified home solar value chain players that include manufacturers and assemblers of solar components and off-grid energy developers and retailers in the country”.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

NCDMB, NEXIM sign $30m capacity building fund

NCDMB, NEXIM sign $30m capacity building fund The Nigeria Content Development and  Monitoring Board (NCDMB) and the Nigeria Export Import Bank (NEXIM) have signed a...

Nigeria fuel consumption hits 102m litres daily as NNPC, EFCC partner to tackle smuggling, oil theft

The state-run Nigerian National Petroleum Corporation (NNPC) has urged all industry stakeholders to collaborate with the corporation to ensure that the daily national petroleum...

TotalEnergies targets $60bn renewable projects in 10 years

TotalEnergies said it would be investing about $60 billion in renewable projects over the next 10 years with 10 per cent of the spending...

Why FG must intervene in Lekoil crisis?

The leadership tussle in Lekoil Nigeria, an indigenous oil company, deepened last week when the Cayman Island-based Lekoil Limited announced that Lekan Akinyanmi’s employment...

Recent Comments