BY JONATHAN NDAISAIAH
Designed to boost the ongoing efforts to fix Nigeria’s energy supply challenge, the five 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 five 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.
According to a statement by his media aide, Laolu Akande ,Prof. Osinbajo stated this yesterday at a virtual engagement with stakeholders involved in the implementation of the Solar Power Naija Initiative.
Under the arrangement, the Rural Electrification Agency (REA) will drive the implementation while private companies will install and manage the home systems by drawing funding from a low-cost loan facility from the Central Bank of Nigeria (CBN).