The federal government of Nigeria has estimated that over 25 million Nigerians will benefit from the Solar Home Systems that commences this week and will be expected to pay about N4,000 monthly, the presidency has said.
The Vice President’s Senior Special Assistant to the on Media and Publicity, Laolu Akande, disclosed this in a statement on Sunday titled “25m Nigerians to own 5m solar systems at N4,000 monthly.”Laolu gave further insight into earlier reports that the Federal Government will from next week start the method of installation of five million solar home systems in underserved and off-grid communities across the country.
According to him, the installation is in the renewal of the implementation of the government’s Economic Sustainability Plan.
“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,” Akande said. He noted that that the order allows as many as 25 million Nigerians to own personal solar systems in their homes. He added that 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. The presidential aide said, “The program will include the assembly or manufacturing of components of off-grid solutions to facilitate the growth of the local manufacturing industry.“In view of the scale of materials required, solar equipment manufacturers/assemblers will be incentivized to set up facilities in Nigeria, thereby offering additional job opportunities to Nigerians.