Nigerians To Pay N4,000 Monthly For This New Government Initiative- Presidency
The presidency has revealed that about 25 million Nigerians who will be benfiting from the Federal Government’s Solar Home Systems that commences this week, will be paying a monthly fee of N4,000.
Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande who disclosed this in a statement titled “25m Nigerians to own 5m solar systems at N4,000 monthly” and released on Sunday November 29, added that the Federal Government’s plan of commencing the process of installation of five million solar home systems in underserved and off-grid communities across the country is in continuation of the implementation of the government’s Economic Sustainability Plan.
The solar program nicknamed Solar Power Naija, for which installations start in December is being implemented by the Rural Electrification Agency.
As indicated in the Economic Sustainability Plan, the five million connections initiative is a private sector-led electricity access acceleration scheme to be facilitated by a low-cost loan facility from the Central Bank of Nigeria and implemented by REA.
“An important aspect of the scheme is the option of outright ownership by beneficiaries at a cost ranging from N1, 500 per week to N4, 000 monthly depending on the capacities, for a period of three years.
“The programme will include the assembly or manufacturing of components of off-grid solutions to facilitate the growth of the local manufacturing industry.See Also
“In view of the scale of materials required, solar equipment manufacturers/assemblers will be incentivised to set up facilities in Nigeria, thereby offering additional job opportunities to Nigerians.
“In addition, installation, servicing and payment collections are expected to provide thousands of other jobs. In all, at least 250, 000 jobs will be created.”
While the World Bank which is also participating in the plan is providing a grant to finance 20 percent of the retail cost of the solar system across the country, the REA which is the lead implementing agencies of the Solar Home System, had through its off-grid solar programme connected the people of Olooji community (Ijebu East) in Ogun State to electricity, for the first time in 200 years.
Olooji solar hybrid has a total capacity of 100KW completed with 304 solar panels, 72 batteries and over 30KM of distribution network cables, serving over 4,000 people.