25 million Nigerians will be expected to pay about N4,000 monthly over 3 years to benefit from the FG’s Solar Power Naija project.
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 3 years.
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.”
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 program 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 program 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.
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.
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.
According to Mr. Akande, “The program will include the assembly or manufacturing of components of off-grid solutions to facilitate the growth of the local manufacturing industry. Given 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.’’
Also, installation, servicing, and payment collections are expected to provide thousands of other jobs. In all, at least 250, 000 jobs will be created.”
If religiously implemented, this will help provide affordable energy to the under-served Nigerians in rural areas to improve the social, economic, and environmental welfare of 25 million Nigerians while generating jobs, increasing revenues, and import substitution.
However, the fear is whether this will go the same way as other government programs or initiatives in the past.