Nigeria: Solar home systems available for N4,000 monthly for 3 years

Installed under the Economic Sustainability Plan the system will reportedly charge a monthly tariff of N4,000 for 3 years to the beneficiaries as 25 million Nigerians will own these solar panels in the area of their residences.

To address the challenges of power supply in Nigeria, 25 million Nigerians who are deprived of power supply by the national grid will be provided Solar Home Systems by the federal government, according to a report by Vanguard.

Installed under the Economic Sustainability Plan the system will reportedly charge a monthly tariff of N4,000 for 3 years to the beneficiaries as 25 million Nigerians will own these solar panels in the area of their residences.

The disclosure was made as a response by Laolu Akande, the media aide to the vice president Yemi Osinbajo when inquired about the cost of the ESP Solar program also named SOLAR POWER NAIJA. The program is being implemented by the Rural Electrification Agency (REA), which prioritizes Nigerians in rural areas majorly and the urban areas with undersupply of power or total cut off from the national grid.

Akande disclosed the option of outright ownership is the main aspect of the scheme according to which the beneficiary can claim ownership based on capabilities ranging from N1,500 per week to N4,500 per month for three years as several for 25 million Nigerians in their areas of residence.

Encouraged by low-cost loan facility Central Bank of Nigeria (CBN) the five million connections endeavor is a private sector-led electricity access acceleration scheme, as indicated in the Economic Sustainability Plan.

Akande emphasized the objectives of the program as the creation of cheap and clean energy. He said, "the programme will include the assembly or manufacture of components of off-grid solutions to facilitate growth of the local manufacturing industry. In view of the scale of materials required, solar equipment manufacturers/assemblers will be incentivised 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."

As observed by reports, the plan for the installation of clean energy by 25 million Nigerians is an effort by the federal government to address the energy crisis in Nigeria.