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News - North Central - FCT Updated: May 22, 2024

Tinubu approves $750m for rural electrification

By Felicia Abisola Olamiji
May 22, 2024
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The Federal Government has approved a $750m World Bank funding for constructing 1,200 mini-grids in rural communities across Nigeria.

Abba Aliyu, the Managing Director/Chief Executive Officer of the Rural Electrification Agency,  disclosed this Tuesday while addressing newsmen at the Alliance for Rural Electrification Energy Access Forum held in Lagos.

Aliyu explained that President Bola Tinubu approved the fund for the Distributed Access through Renewable Energy Scale-up project, which aimed at providing energy access to Nigerians in rural communities.

Aliyu noted that about 19 million of the 85 million Nigerians without access to energy would be provided electricity under the scheme.

While noting that Nigeria has the highest electricity gap in the world, Aliyu stated that the Federal Government was doing a lot to bridge the gap, adding that the fund would be used as a capital subsidy to incentivise the private sector to electrify 23 per cent of the total unelectrified Nigerians,

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Aliyu stated, “The Federal Government, under the leadership of President Bola Tinubu approved the Biggest public sector-funded off-grid project across the entire world. It is a $750m project where REA will use that funding as a capital subsidy to incentivise the private sector to electrify 23 per cent of the total unelectrified Nigerians, and we are very clear about how we want to achieve that.

"We want to provide three million Nigerians with electricity access using isolated mini-grids; 1.5 million Nigerians with electricity through interconnected mini-grids and and also about 15.5 million Nigerians with solar system mesh-grids.

“We also intend to use that funding to capitalise private sector funding to provide over 40,000 farmers with productive use of equipment to enhance their productivity.”
 

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Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

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