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National News

FG To Kick Start Solar Power Housing Programme In Akwa-Ibom, Ekiti And Kano

todayMay 10, 2021

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Professor Yemi Osinbajo, Vice President of Nigeria

Over two thousand hectares of land with titled documents have been given by 24 States for the Buhari administration’s Social Housing programme.

In a statement signed by the Senior Special Assistant to the Vice President on media and Publicity, Laolu Akande, on Sunday, 17 States have also indicated interest to participate in the Solar Power programme, which is an important elements of the ongoing Economic Sustainability Plan.

According to the statement agreement has been reached with one major cement manufacturer in the country to sell at significantly discounted prices as low as N2600 per bag of for the social housing projects.

The agreement was reached after the Vice President, Prof. Yemi Osinbajo met with three major cement manufacturers in the country.

Commenting on the implementation of components of the Economic Sustainability Plan ESP, Prof Osinbajo said the Buhari administration would continue to focus on creating more jobs, while improving access to power and affordable housing for majority of Nigerians.

The Vice President assured that the Federal Government will ramp up efforts so more Nigerians have access to electricity and affordable housing.

According to the presentation made by the Managing Director of the Rural Electrification Agency REA, Alhaji Ahmad Salihijo, the Solar Power Naija team has had engagements with the 6 states who have identified private sector developers.

The team has also selected Akwa Ibom, Ekiti and Kano as pilot states for the state-guarantee transaction model for the solar power programme.

Alhaji Salihijo explained that REA was currently tracking transactions worth N55 billion potentially contributing the first two million connections in Nigeria and providing thousands of jobs

For instance, the programme is currently tracking four transactions in the commercial bank upstream channel contributing 3,500 jobs and 100,000 connections.

The MD added that 9 participants have submitted applications for over N4 billion of the N20 billion allocated with three companies close to receiving disbursements.

According to the MD, “Bleu Camel Energy with a loan amount of N3 billion is targeting to create 600 jobs.

Sunking, another investor with a loan amount of N3 billion will create 1,500 jobs; also Auxno Solar with N300 million loan amount targets 100 jobs while Emerald Industrial Co. is seeking N3 billion funding to manufacture 100,000 Solar Home Systems and smart meters.

Written by: Elizabeth

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