Nigeria launched new solar programme
Post date: 03/12/2020 - 08:37
The Federal Government of Nigeria (FGN) has launched a new programme to provide 25 million Nigerians with clean, safe and affordable electricity. The initiative as part of the Economic Sustainability Plan (ESP) will roll out 5 million new solar connections in off-grid communities across the country. The programme is a private sector-led electricity access acceleration scheme to be facilitated by the Central Bank of Nigeria (CBN) and implemented by the Rural Electrification Agency (REA).
The objectives are to expand energy access to 25 million individuals through the provision of solar home systems (SHS) or connection to a mini grid; increase local content in the off-grid solar value chain and facilitating the growth of the local manufacturing and assembly industry; and to incentivize the creation of 250,000 new jobs in the energy sector.
The program has been designed to address access to affordable finance. The »Solar Connection Intervention Facility« from the Central Bank of Nigeria makes low-cost local currency debt available to Nigeria Electrification Project pre-qualified SHS distributors and mini grid development companies.
The programme provides assemblers with import duty exemptions and access to the CBN facilitating sustainable growth for the local value chain.