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25m Nigerians to pay N4,000 monthly for new solar system

25m Nigerians to pay N4,000 monthly for new solar system
November 30
09:07 2020

An estimated 25 million Nigerians slated to benefit from the proposed off-grid solar home systems across rural communities in the country are expected to pay N4,000 monthly.

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The federal government had announced that it would commence the installation of the N140 billion solar project for 5 million households in underserved and rural communities from the first week of December.

The federal government noted that the initiative is a continuation of coordinated implementation of the Economic Sustainability Plan (ESP) of the President Muhammadu Buhari administration.

The initiative is implemented by the Rural Electrification Agency (REA).

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In a statement on Sunday, Laolu Akande, the senior special assistant on media and publicity to Vice-President Yemi Osinbajo, said the beneficiaries of the solar programme, tagged Solar Power Naija, are expected to pay N4,000 monthly over a period of three years.

“An important aspect of the scheme is the option of outright ownership by beneficiaries at a cost ranging from N1,500 per week to N4,000 monthly depending on the capacities, for a period of three years,” Akande said.

The solar installation is also expected to create about 250,000 jobs including in manufacturing, assembling, installations, maintenance and payment systems.

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