FG’s N140billion Solar Homes Project To Support Private Developers — Osinbajo

*Programme To Generate Additional N7 Billion Tax Revenue
Yearly

Vice President, Prof. Yemi Osinbajo has said that the Federal
Government’s N140billion solar homes project will support private
developers to provide power to five million households.

He said the project which would be financed by a N140 billion
fund would be paid for by the beneficiaries.

Prof. Osinbajo stated this while flagging off the 100,000 Solar
Home System in Jangefe community, Kazuare Emirate, Jigawa
State.

The VP who commended the Niger Delta Power Holding Company
(NDPHC) Limited for playing a leading role in Federal Government’s
plan to provide electricity to 25 million Nigerians through
off-grid connections, said the project will, in turn, create job
opportunities.

His words: “Another challenge which became an opportunity for us
was the Covid-19 and our response to that which as many knows was
Economic Sustainability Plan.

“The president’s vision around that plan was that rather than
have situations where people lose jobs and opportunities; we could
take the opportunities of Covid-19 to create more jobs. We could
take the opportunities of the economic fallout to create more
opportunities for the Nigerian people.

“So the president approved that we should do these five million
solar home connections across the country which would mean that 25
million Nigerians would have power. But not just that, there will
be jobs around those who will manufacture, those who will assemble
the solar systems, those who will install them will have jobs,
those who will maintain them will have jobs and those who will also
supply the payment systems and maintain the payment systems will
also have jobs.”

He reminded that the initiative is a partnership programme with
the private sector driving the connections, supported by
concessionaire lending by the Central Bank of Nigeria and
commercial banks.

“The power provided is not free but we have put in place
structures to make sure that the connections are affordable to all
those who will use it,” he added.

Also speaking at the launch, the Minister of Power, Engr Sale
Mamman said the programme when fully implemented will generate an
additional N7 billion in tax revenue per annum and $10 million in
annual import substitutions.
Engr. Mamman said the Ministry will supervise the programme and
would ensure the expansion of off-grid connections across the
country.

Earlier, the Managing Director(MD), NDPHC, Mr Chiedu Ugbo said
the company had already provided 20,000 units of solar home systems
to households across the country.

“Those 20,000 are working as we speak and then the government
asked us to do another five million solar connections, that will
include solar home systems and mini-grid, off-grid solutions”, he
added.

He explained that the 100,000 solar home systems launch is the
second phase of NDPHC’s beyond the grid project.

*Programme To Generate Additional N7 Billion Tax Revenue
Yearly

Vice President, Prof. Yemi Osinbajo has said that the Federal
Government’s N140billion solar homes project will support private
developers to provide power to five million households.

He said the project which would be financed by a N140 billion
fund would be paid for by the beneficiaries.

Prof. Osinbajo stated this while flagging off the 100,000 Solar
Home System in Jangefe community, Kazuare Emirate, Jigawa
State.

The VP who commended the Niger Delta Power Holding Company
(NDPHC) Limited for playing a leading role in Federal Government’s
plan to provide electricity to 25 million Nigerians through
off-grid connections, said the project will, in turn, create job
opportunities.

His words: “Another challenge which became an opportunity for us
was the Covid-19 and our response to that which as many knows was
Economic Sustainability Plan.

“The president’s vision around that plan was that rather than
have situations where people lose jobs and opportunities; we could
take the opportunities of Covid-19 to create more jobs. We could
take the opportunities of the economic fallout to create more
opportunities for the Nigerian people.

“So the president approved that we should do these five million
solar home connections across the country which would mean that 25
million Nigerians would have power. But not just that, there will
be jobs around those who will manufacture, those who will assemble
the solar systems, those who will install them will have jobs,
those who will maintain them will have jobs and those who will also
supply the payment systems and maintain the payment systems will
also have jobs.”

He reminded that the initiative is a partnership programme with
the private sector driving the connections, supported by
concessionaire lending by the Central Bank of Nigeria and
commercial banks.

“The power provided is not free but we have put in place
structures to make sure that the connections are affordable to all
those who will use it,” he added.

Also speaking at the launch, the Minister of Power, Engr Sale
Mamman said the programme when fully implemented will generate an
additional N7 billion in tax revenue per annum and $10 million in
annual import substitutions.
Engr. Mamman said the Ministry will supervise the programme and
would ensure the expansion of off-grid connections across the
country.

Earlier, the Managing Director(MD), NDPHC, Mr Chiedu Ugbo said
the company had already provided 20,000 units of solar home systems
to households across the country.

“Those 20,000 are working as we speak and then the government
asked us to do another five million solar connections, that will
include solar home systems and mini-grid, off-grid solutions”, he
added.

He explained that the 100,000 solar home systems launch is the
second phase of NDPHC’s beyond the grid project.