FG’s N140bn solar homes project to support private developers —Osinbajo

Vice President, Prof. Yemi Osinbajo has said that the Federal Government’s N140billion solar homes project will support private developers to provide power to 5million households.

He said the project which would be financed by a N140 billion fund would be paid for by the beneficiaries.

Prof. Osinbajo stated this while flagging-off  the 100,000 Solar Home System in Jangefe community, Kazuare Emirate, Jigawa State.

The VP who commended the Niger Delta Power Holding Company (NDPHC) Limited for playing leading role in Federal Government’s plan to provide electricity to 25 million Nigerians through off-grid connections , said the project will in turn create job opportunities.

His words:“Another challenge which became an opportunity for us was the Covid-19 and our response to that which as many know was Economic Sustainability Plan.

“The President’s vision around that plan was that rather than have situations where people lose jobs and opportunities; we could take the opportunities of Covid-19 to create more jobs. We could take the opportunities of the economic fallout to create more opportunities for the Nigerian people.

“So the President approved that we should do these five million solar home connections across the country which would mean that 25 million Nigerians would have power. But not just that, there will be jobs around those who will manufacture, those who will assemble the solar systems, those who will install them will have jobs, those who will maintain them will have jobs and those who will also supply the payment systems and maintain the payment systems will also have jobs”.

He reminded that the initiative is a partnership programme with the private sector driving the connections, supported by concessionaire lending by the Central Bank of Nigeria and commercial banks.

“The power provided is not free but we have put in place structures to make sure that the connections are affordable to all those who will use it”, he added.

Also speaking at the launch, the Minister of Power, Engr Sale Mamman said the programme when fully implemented will generate additional N7 billion in tax revenue per annum and $10 million in annual import substitutions.

Engr. Mamman said the Ministry will supervise the programme and would ensure the expansion of off-grid connections across the country.

Earlier, the Managing Director(MD), NDPHC, Mr. Chiedu Ugbo said the company had already provided 20,000 units of solar home systems to households across the country.

“Those 20,000 are working as we speak and then the government asked us to do another five million solar connections, that will include solar home systems and mini-grid, off-grid solutions”, he added.

He explained that the 100,000 solar home systems launch is the second phase of NDPHC’s beyond the grid project.

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