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Home Industries Energy

25 million Nigerians to pay N4,000 monthly for solar power system

Chike OlisahbyChike Olisah
2 years ago
in Energy, Spotlight
US-based solar company to invest $300m in Nigeria, 25 million Nigerians to pay N4,000 monthly for solar power system
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The Presidency has disclosed that an estimated 25 million Nigerians that will benefit from the Federal Government’s Solar Home Systems which is expected to commence this week will be expected to pay about N4,000 monthly over a 3-year period.

According to a report by the News Agency of Nigeria (NAN), this disclosure was made by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, through a statement on Sunday titled “25m Nigerians to own 5m solar systems at N4, 000 monthly.”

READ: Ikeja Electric tops with 10.7% approved meter allocation – NERC

While giving further insight into earlier reports that the Federal Government will from next week commence the process of installation of 5 million solar-home systems in underserved and off-grid communities across the country, Akande said the solar programme nicknamed Solar Power Naija, whose installations would start in December, is being implemented by the Rural Electrification Agency.

The Presidential media aide who pointed out that the programme was designed to boost ongoing efforts to fix Nigeria’s energy supply challenge, also said that priority would be given to Nigerians residing in rural areas and urban settlements either under-served or cut off the national grid.

(READ MORE: World Bank approves $2.2 billion loan for Nigeria)

He said an important aspect of this scheme is the option of outright ownership by beneficiaries at a cost ranging from N1, 500 per week to N4, 000 per month depending on the capacities for the 3 years.

He noted that that the arrangement allows as many as 25 million Nigerians to own personal solar systems in their homes.

READ: FG delivers 100 KWP Solar Mini-Grid to serve off-grid community in Ogun State

He added that, as indicated in the Economic Sustainability Plan, the 5 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.

Akande said, “The programme 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 incentivised to set up facilities in Nigeria, thereby offering additional job opportunities to Nigerians.’’

READ: Nigeria’s inflation rate to moderate by first half of next year

“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.”

Optics: If religiously implemented, this will help provide affordable energy to the under-served Nigerians in rural areas with the objective of improving social, economic, and environmental welfare of 25 million Nigerians while generating jobs, increasing revenues, and import substitution.

READ: FG set to create at least 5 million jobs for youths in the power sector – Minister of Power 

However, the fear is whether this will go the same way as other government’s programmes or initiatives in the past.

Explore Data on the Nairametrics Research Website

Related

Tags: Economic Sustainability PlanLaolu AkandeNigeria NewsRural Electrification AgencySolar Home SystemsSolar Power Naija

Comments 10

  1. Henry smile says:
    November 30, 2020 at 8:06 am

    HOW do I get my own

    Reply
    • ame fregene says:
      November 30, 2020 at 3:52 pm

      am interested o,hw do i get

      Reply
    • Victor Okorie Ndukwe says:
      November 30, 2020 at 5:13 pm

      I want to be part of those to benefit from this project

      Reply
      • Anonymous says:
        November 30, 2020 at 8:29 pm

        Please sir, am interested sir I want to be among those to benefit on this sir Thanks sir

        Reply
      • Ukoha Daniel oka says:
        December 2, 2020 at 6:15 am

        Place sir am interested I hope my request well be granted thanks

        Reply
  2. Tabuko Onorieyereraye says:
    November 30, 2020 at 8:40 pm

    Please sir, am interested sir I want to be among those to benefit from this opportunity sir

    Reply
  3. Ilumah olufunmilayo says:
    December 1, 2020 at 9:26 pm

    Pls I need 1 o tanks in advance

    Reply
  4. Paul I mafidon says:
    December 2, 2020 at 8:42 am

    Is this real,if yes please I need ooo

    Reply
  5. adeyeye nurudeen says:
    December 2, 2020 at 9:54 am

    I commend the Federal government for having us in mind. I am interested in solar power system as beneficiary, thank you and God bless the Federal Republic of Nigeria

    Reply
  6. Daniel Okwa says:
    December 13, 2020 at 8:03 pm

    My frend bought Fenix International solar home system and it was vry gud. they do things right

    Reply

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