Solar Panels in Atacama Desert, Chile
President Muhammadu Buhari disclosed this on Monday at the first-year Ministerial Performance Review Retreat held at the Presidential Villa in Abuja.
The President, who was represented at the event by the Vice President, Professor Yemi Osinbajo, said, “In addressing the power problems, we must not forget that most Nigerians are not even connected to electricity at all.”
“So, as part of the Economic Sustainability Plan (ESP), we are providing solar home systems to five million Nigerian households (impacting up to 25 million individual Nigerians) in the next 12 months,” he added.
According to the President, the government has already begun the process of providing financing support for manufacturers and retailers of Off-Grid Solar Home Systems and Mini-Grids, who are to provide the systems, through the Central Bank of Nigeria (CBN).
He believes the five million systems under the ESP’s Solar Power Strategy will produce 250,000 jobs and impact up to 25 million beneficiaries through the installation.
President Buhari explained that this would translate into more Nigerians having access to electricity via a reliable and sustainable solar system.
He stated that the support to solar home system manufacturers and the bulk procurement of local meters would create over 300,000 local jobs while setting Nigeria on a path to full electrification.
“We are also executing some critical projects through the Transmission Rehabilitation and Expansion Programme, which will result in the transmission and distribution of a total of 11,000 Megawatts by 2023,” the President said.
He noted that the government has developed N2.3 trillion ESP (which consists of fiscal, monetary, and sectoral measures to enhance local production, support businesses, retain and create jobs, and provide succour to Nigerians, especially the most vulnerable) as part of its response to the challenges posed by the COVID-19 pandemic.
