With no less than US$1.9 trillion required to finance Nigeria’s Energy Transition Plan (ETP), the Rural Electrification Agency (REA) has stressed the need for more private sector investment in the delivery of electricity across the country.
This is as the agency said it has disbursed a total of $64.8 million to electrify up to five million residents under the Nigeria Electrification Project (NEP) out of over $392 million commuted for the project.
Managing director of REA, Ahmad Salihijo Ahmad, while briefing the press in Abuja said, the agency has completed the installation of 67 mini-grids, NEP, which is funded by a $350 million World Bank loan and $200 million loan from the African Development Bank, (AfDB) in an effort to bridge the nation’s electricity gap, currently estimated at about 80 million people.
Ahmad said that the programme is expected to provide off-grid reliable and clean electricity supply to 705,000 households, 90,000 micro, small and medium enterprises, 100…
Source: Leadership Newspaper