Nigerians To Pay N4,000 Monthly For Solar System - Presidency

Yemi Osinbajo

The presidency has revealed that Nigerians who will benefit from the Solar Home Systems of the Federal Government that will begin this week will pay a monthly amount of N4,000.

Laolu Akande, Senior Special Assistant to the Vice President for Media and Publicity, who disclosed this in a statement titled "25 million Nigerians own 5 million solar systems at N4,000 monthly" and released on Sunday, November 29, added that the Federal Government's intention to begin the process of installing five million solar home systems in underserved and off-grid communities across the country is to start the process of installing five million solar home systems in underserved and off-grid communities across the country.

The Rural Electrification Agency is introducing a solar program nicknamed Solar Power Naija, for which installations commence in December.

As indicated in the Economic Sustainability Plan, the five 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.

Akande said;

“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.

“The program will include the assembly or manufacturing of components of off-grid solutions to facilitate the growth of the local manufacturing industry.

“In view of 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.

“In addition, installation, servicing and payment collections are expected to provide thousands of other jobs. In all, at least 250, 000 jobs will be created.”

While the World Bank which is also participating in the plan is providing a grant to finance 20 percent of the retail cost of the solar system across the country, the REA which is the lead implementing agencies of the Solar Home System, had through its off-grid solar program connected the people of Olooji community (Ijebu East) in Ogun State to electricity, for the first time in 200 years.

Olooji solar hybrid has a total capacity of 100KW completed with 304 solar panels, 72 batteries and over 30KM of distribution network cables, serving over 4,000 people.