• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 2, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

REA, Oando Sign MoU To Boost Renewable Energy Access In Nigeria

by Nse Anthony - Uko
2 years ago
in Business
Renewable Energy Access In Nigeria
Share on WhatsAppShare on FacebookShare on XTelegram

The Rural Electrification Agency (REA) and Oando Clean Energy Limited (OCEL) have signed a Memorandum of Understanding (MoU) towards boosting renewable energy access across the country.

Advertisement

The agreement was signed in Abuja following the successful “Solar Power Naija” (SPN) investor matchmaking event between the private sector and government agencies towards the deployment of sustainable renewable energy access in the country.

The REA has continued to play a key role in the nation’s off-grid, renewable energy space, as it has maintained a strong history of drawing in private sector investments, facilitating inter-sectoral collaboration to boost implementation and delivery of fit-for-purpose off-grid solutions nationwide.

A key player in the energy industry, Oando Plc, through its clean energy subsidiary, Oando Clean Energy Limited (OCEL) established in 2021 signed the latest MoU to mark another milestone in the agency’s strategic partnership to explore new approaches to clean energy development for socio-economic impact in post-subsidy Nigeria.

Speaking at the MoU signing ceremony, the managing director/CEO of the REA, Ahmad Salihijo Ahmad said one of the best ways to mitigate the effects of recent fuel subsidy removal in the country was through the exploitation of opportunities to optimise the critical role of renewable energy.

RELATED

Forum Salutes Tinubu, Umahi Over Infrastructural Development In North

Amid 2,669 Road Construction Projects, Engineers Blame Kickbacks For Failures

7 hours ago
Large-cap Stock Drives Local Bourse To N180bn Gains

Stock Investors Gain N3.967trn In May Amidst Positive Returns

7 hours ago

Ahmad was delighted about the REA–Oando partnership, saying “it will bring about mutually beneficial collaboration, knowledge exchange and experiences all targeted at achieving the common goal of optimising renewable energy.

Ahmad said REA has a history of ensuring that whatever kind of financing was available, there would be programmes and initiatives the agency would implement that could be used to deliver impact across the country.

While commending the REA for its approach on understanding and leveraging the role of the private sector players to deliver on the task on sustainable energy access across the country, the President/CEO of Oando Clean Energy Limited, Alex Irune said Oando was keen on renewable energy development.

He said he was excited for the opportunity to create value that the country needs through the collaboration under the agreement.

Irunen expressed his confidence in the collaboration with REA, explaining that “what the REA has effectively done is to take the bull by the horn and de-risk investment opportunities. I wouldn’t be signing this MoU today if there wasn’t the enabling environment provided by the REA. I commend the REA on their approaches, programmes and achievements over the years. These approaches are sustainable”.

The executive director, Technical Services at REA, Barka Sajou explained the Agency’s shift in paradigm on the delivery of fit-for-purpose electrification projects, adding that “delivering on sustainable energy access across the nation must go beyond just connections to serving as an enabler of growth in communities, while targeting electrification projects to people’s sources of livelihood”.

The Head of Solar Power Naija Programme, Barbara Izilien assured that the agency would continue to deepen private sector engagements, targeted at drawing in funding, sustainably, while expanding access across the nation.

Barbara said the intention for this collaboration was to encourage private sector investment to deploy sustainable renewable energy projects across the country.

“We are trying to grow the funding of Solar Power Nigeria. This MoU signing will support the expansion targets of the REA in providing energy access to communities,” he said.

The repositioned REA has, over the years, strengthened ties with key stakeholders in the private sector and the development space. Beyond that, the Agency has realigned itself with the state governments through the Nigeria Governors Forum. In line with the mandate of the REA, the state governments continue to play a pivotal role in the Agency’s consistent deployment of people-centred electrification projects.

REA is the Implementing agency of the federal government under the Federal Ministry of Power tasked with the electrification of unserved and underserved communities to catalyse economic growth and improve quality of life for Nigerians.

The agency, established under part IX, Sections 88- 89 of the Electric Power Sector Reform Act (EPSRA), 2005, is currently implementing the Rural Electrification Fund (REF), Capital Projects, Nigeria Electrification Project (NEP), Solar Power Naija (SPN), Energising Education Programme (EEP), Energizing Economies Initiative (EEI), Energising Agriculture Programme (EAP), Energy for All – Mass Rural Electrification and Research and Innovation Hub. Africa Mini Grids Programme and De-risking Sustainable Off-Grid Lighting Solutions.

The agency is also responsible for creating an enabling environment for private sector-led projects, which includes conducting feasibility assessments, energy audits, enumeration, data analysis, identification of qualified private sector developers, and project stakeholder engagements.

The Solar Power Naija Programme was launched as part of the Economic Sustainability Plan (ESP) to achieve the roll out of five million new solar connections in off grid communities.

The programme is expected to generate an additional N7 billion increase in tax revenues per annum and $10 million in annual import substitution. The objectives of the programme is to Expand energy access to 25 million individuals five million new connections through the provision of Solar Home Systems (SHS) or connection to a mini grid, Increase local content in the off grid solar value chain and facilitate the growth of the local manufacturing and assembly industry and Incentivize the creation of 250,000 new jobs in the energy sector

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

Breaking NEWS: Nigerians can now earn in US Dollars, acquire ultra premium domains for low and sell for super profit. Our client acquired a domain for $3715 and got it sold for $42,000. Click here to see how you too can profit from the business.


SendShareTweetShare
Previous Post

Interior Design Industry Generates Over N30bn Annually

Next Post

NCC Tasks Telcos On Network Security, Consumer Safety

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

Forum Salutes Tinubu, Umahi Over Infrastructural Development In North
Business

Amid 2,669 Road Construction Projects, Engineers Blame Kickbacks For Failures

2025/06/02
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Stock Investors Gain N3.967trn In May Amidst Positive Returns

2025/06/02
NCAT Rector Raises The Alarm Over Shortage Of Funds For Capital Projects
Business

‘Foreign Students’ Surge At NCAT Boosts Federal Gov’t’s Forex Earnings’

2025/06/02
IWD: Female Employees Share Career Journey At Schneider Electric
Business

‘AI Key To Optimising Infrastructure Surge For Nigeria Data Centres’

2025/06/02
Analyst Hails Senate Over Passage Of Tax Reform Bills
Business

IMF, Analysts Caution Federal Gov’t Over Increasing Debt

2025/06/02
I Regret Not Buying Arsenal — Dangote
Business

Dangote Refinery Has Capacity To Meet West Africa’s Petroleum Needs – Dangote

2025/06/02
Leadership Conference advertisement

LATEST

CSOs Score Tinubu High On SDGs, Youth Development

Tinubu’s Aide Tasks Women On Entrepreneurship As Pink Fleur Unveils ‘Noor Collection’

PICTORIAL: Judges, Lawyers, Litigants Shut Out As JUSUN Strike Cripples Abuja Courts

I Never Backed Emergency Rule In Rivers — Wike

Police Bust Notorious Car Theft Syndicate, Recover Stolen Vehicle In Nasarawa

Kwara Communities Decry Female Genital Mutilation

WAEC: Parent Hires Thugs To Assault School VP For Stopping Exam Malpractice

Gunmen Kill Man, Kidnap Wife In Imo

No One Can Push Me Out Of PDP — Wike

I Will Lead Tinubu’s 2027 Campaign To Deliver FCT, Rivers — Wike

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.