Businesses in the country spend an estimated $14 billion (about N5 trillion) annually importing, fuelling and maintaining generators, the Executive Director, Rural Electrification Funds, Sanusi Ohiare, has said.
In his presentation on off grid and mini grid goals of
the agency at the recent 4th National Council on Power in Benin City, Edo State, Ohiare said: “We thought that if we wanted to replace these technologies which is not efficient in terms of cost; if we wanted to go for cleaner and sustainable energy from renewable sources, we have potentially an investment of about $9.2bn annually (about N3.2trn)."
“We want to channel that generator investment into renewables. There is a high potential for scaling up mini grids which is creating independent generation and distribution in different places especially in rural areas."
As part of efforts to promote increased access to electricity, REA in 2017 began processes to energise various markets in Nigeria in what it terms Energising Economies Programme. The projects include about 37,000 shops at the Ariaria market in Aba, Abia State; Sabon gari market in Kano State; Sura Shopping Complex and Shomolu Printing community in Lagos State.
● Daily Trust
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