The Federal Government has rolled out over N140 billion for the new phase of renewable energy to address the epileptic electricity generation and supply in the country.
The alternative power project Asolar Niaja project being powered under the Rural Electrification Agency REA was launched at the weekend with the deployment of 100,000 solar home system at Jangefe community, Roni local government area of Kazaure in Jigawa State.
The alternative power project will enrich 5 million homes across the country especially those in off-grid communities with solar power connections.
Unveiling the new energy project, vice president Osinbajo said that the new energy program was anchored under the Federal Government’s economic sustainability plan to generate job opportunities and improve the socio-economic wellbeing of Nigerians.Osinbajo noted that the Muhammadu Buhari administration considered the alternative energy supply due to the challenges bedeviling energy generation through the national grid.
The vice president stated that the Federal government approved an additional 200 million USD as a subsidy to private partners through the Rural Electrification Agency REC to facilitate the deployment of the energy infrastructure of the project.
“The new solar project is part of measures to resuscitation the economy after the impact of COVID-19,” Osinbajo said. “The project is to generate millions of job opportunities and empower skills while improving our social-economic sustainability.
“Renewable energy is cheap and environmental friendly. The project objective is to expand energy access to 25 million individuals through 5 million new connections with provision of solar home system.”Minister of Power Saleh Mamma said that the renewable power project will support the nation’s economic recovery initiative with N7 billion revenue target and 10 million USD import substitute to Nigeria.
The minister explained that the project, being developed by Asolar technology and Niger Delta Power Holding Company with funding from the Central Bank of Nigeria (CBN) through a credit facility from Sterling bank under the management of Rural Electrification Agency (REA).
Jigawa State governor Muhammadu Badaru applauded the Federal Government’s intervention in Jigawa state.