By Chijioke Okoronkwo
Abuja, Feb. 25, 2020 Vice President Yemi Osinbajo says that the five million homes solar installation plan under the Federal Government’s Economic Sustainability Plan (ESP) will be a game-changer in the renewable energy space.
Osinbajo’s spokesman, Laolu Akande, in a statement on Thursday in Abuja, said the vice president virtually engaged with stakeholders involved in the implementation of the Solar Power Naija Initiative.
The initiative was designed to boost ongoing efforts to fix Nigeria’s energy supply challenge.
Under the arrangement, the Rural Electrification Agency (REA) will drive the implementation while private companies will install and manage the home systems, drawing funding from a low-cost loan facility from the Central Bank of Nigeria.
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Our solar power initiative a game changer, Osinbajo says
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Designed to boost ongoing efforts to fix Nigeria’s energy supply challenge, the 5 million homes solar installation plan under the Buhari administration’s Economic Sustainability Plan (ESP) will be a game-changer in the renewable energy space, according to Vice President Yemi Osinbajo, SAN.
This is because, besides the installation of the 5 million solar home system and mini grids, the initiative will also generate significant employment through the development of local capacities for the manufacture and maintenance of solar components and equipment.