Nigerians to pay N4,000 monthly for solar system – Presidency
The estimated 25 million Nigerians that will benefit from the Federal Government’s Solar Home Systems that commences this week will be expected to pay about N4,000 monthly, the presidency has said.
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.”
Akande was giving further insight into earlier reports that the Federal Government will from next week commence the process of installation of five 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,” Akande said.
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. Punch