All is set for the Federal Government of Nigeria to add another viable source of revenue to its Internally Generated Revenue inventory. This time, the focus is on the energy industry particularly Solar Power as recently, the Federal Government assured that it will rake in the sum of ₦7 billion in tax revenue and another $10 million as an annual import substitute from the ongoing Solar Power Naija scheme.

With the recent launch of the second phase of the scheme at the Jangafe community in Jigawa State, 100,000 units of the Solar Home Scheme will be deployed to create five million connections at the end of the scheme.

The icing on the cake is that the scheme is expected to benefit 25,000 persons with electrification as well as creating massive employment in the region. There is a clause in the project for full ownership after homeowners pay ₦3,500 monthly rental fee for five years.

Recall that in the power scheme, President Buhari approved the powering of five million homes with the potential to create jobs

What you should know

The project is coordinated by Asolar Technology and the Niger Delta Power Holding Company (NDPHC) with funding from the Central Bank of Nigeria (CBN) through a credit facility from Sterling Bank under the management of the Rural Electrification Agency (REA).

The Solar Power Naija project is worth ₦140bn which is part of the Economic Sustainability Plan ESP,  and aimed at revising the effects of the COVID-19 pandemic.

Solar Power Naija project is in line with Niger Delta Power Holding Company’s, NDPHC agenda for leading renewable energy access with the track record of formerly implementing 20,000 SHS installations.

Governor Muhammadu Badaru of Jigawa state has embraced the project tagging it as  “a project that will enhance social and economic sustainability in the state.”

Check out highlights of the statement from Vice President Yemi Osinbanjo at the project launch,

President Muhammadu Buhari approved the powering of five million homes to create jobs for those that will install, maintain as well as those in the payment solar home system.

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