- The first set of installations is expected to begin by December 2020.
- The CBN will provide private solar companies with funds at low rates to ensure that solutions are affordable for consumers.
- The programme is expected to provide 25 million people with power supply while providing about 250,000 direct jobs.
According to sources in The Presidency, the Federal Government will begin installing solar home systems across under-served and unserved communities in the country. The Programme which will supply 5 million Solar Home systems, aims to reduce the energy deficit for the most vulnerable is seen as a component of the government’s Economic Sustainability Plan (ESP), coordinated response to the Covid-19 pandemic.
As part of this programme, the manufacturing of solar components and its assembly will take place in the country to help grow local manufacturing capacity and improve the local economy.
The Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Mr Laolu Akande, has said that the first phase of installations will occur in the last month of the year.
The programme is expected to benefit five million households, providing power supply to about 25 million people mainly inhabiting rural areas without access to the national grid.
The Central Bank of Nigeria will provide the funds to private solar companies involved in the manufacture, assembly, installation, servicing of the solar systems, at rates between 5 to 10 per cent. It is expected that these low rates will decrease the cost of purchasing these solutions for consumers.
The government is hopeful that the programme will create about 250,000 direct jobs.