Nigerian government will begin the process of installing five million solar home systems across the country.
This was made known by Mr. Laolu Akande who is the Senior Special Assistant to the President on Media and Publicity (Office of the Vice-President).
Mr. Akande said that the initiative was designed to fundamentally address the challenge of power supply in the country and will benefit about 25 million Nigerians.
The program will include the assembly and manufacturing of components of off-grid solutions to improve the growth of the local manufacturing industry.
This program is expected to create about 250,000 jobs including in manufacturing, assembling, installations, maintenance and payment systems.
It is believed that the Central Bank of Nigeria will provide funds to the private companies in the Solar power sub sector involved in the manufacture, installation, servicing of the solar systems. The rate is between 5 to 10 percent, way below the current commercial lending rates in the country.
