25m Nigerians to own 5m solar systems at N4,000 monthly.
The Federal Government of Nigeria disclosed its readiness to equip 25M of its citizens with Solar Home Panels at a monthly fee of N4,000 over a 3-year period..
Speaking about this programme, Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, made this known in a statement on Sunday titled “25m Nigerians to own 5m solar systems at N4,000 monthly.”
According to him, The Federal Government will commence the process of installation of 5 million solar home systems from next week in underserved and off-grid communities across the country.
The solar programme nicknamed Solar Power Naija, is being implemented by the Rural Electrification Agency.
“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,”
He added that 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.