The Federal govt has disclosed that 25 million Nigerians will benefit from the Federal Government’s Solar Home Systems which is expected to commence this week, and will be expected to pay about N4,000 monthly, over a 3-year period.
The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement on Sunday titled “25m Nigerians to own 5m solar systems at N4,000 monthly.”
The Federal Government will from next week commence the process of installation of 5 million solar home systems in underserved and off-grid communities across the country.
The installation is in continuation of the implementation of the government’s Economic Sustainability Plan.
The earlier report, however, elicited questions from Nigerians who wanted to know the cost of owning the solar system.
Akande explained that beneficiaries will be expected to pay about N4,000 monthly over a period of three years.
He said the solar programme nicknamed Solar Power Naija, for which installations starts in December, is being implemented by the Rural Electrification Agency.
“An important aspect of the scheme is the option of outright ownership by beneficiaries at a cost ranging from N1, 500 per week to N4, 000 monthly depending on the capacities, for a period of three years,”
He noted that that the arrangement allows as many as 25 million Nigerians to own personal solar systems in their homes.
He added that as indicated in the Economic Sustainability Plan, the five million connections initiative is a private sector-led electricity access acceleration scheme to be facilitated by a low-cost loan facility from the Central Bank of Nigeria and implemented by REA.
The fear is that, will this go the way other government’s programmes or innitiative has turned out to be in the past or take a different turn if implemented.
The post 25M Nigerians to Own 5M Solar Home Panels at N4000 Monthly appeared first on Wealth Creation.
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