Nigerian Mini Grid Electricity Development: $9.2billion Annual Investment Opportunities Revealed – REA

ojukotimi
By ojukotimi December 6, 2017 16:52

Nigerian Mini Grid Electricity Development: $9.2billion Annual Investment Opportunities Revealed – REA

Ogunbiyi

During a presentation on Tuesday, December 5, 2017, at the mini-grid action learning event in Abuja as reported by Vanguard, the Managing Director of Rural Electrification Agency (REA), Mrs. Damilola Ogunbiyi, who spoke on “Overview of the Off-Grid Opportunities and Challenges in Nigeria“, said there were enormous opportunities than challenges in the provision of electricity through mini-grid and solar home systems.

The learning event, with the theme “Up scaling Mini Grids For Low-Cost and Timely Access to Electricity”, was organised by REA in partnership with the World Bank Group, Department for International Development (DEFID), Energy Sector Management Assistance Programme (ESMAP) and Climate Investment Fund (CIF). This was convened to start up programmes to step up the uptake of mini grids for low cost access to electricity in Africa.

She furthermore disclosed that its study on Nigerian mini grid electricity development potential revealed annual investment opportunities of 9.2 billion dollars. Rural Electrification Agency (REA), with the assistance of the World Bank Group, was working together to provide required funding for the Nigerian Electrification Programme. According to her, the assistance from World Bank in the development of mini-grid electricity in Nigeria, is expected to bring in 350 million dollars

Mrs. Damilola Ogunbiyi, the Rural Electrification Agency managing director, also revealed that a permissive environment for mini-grid operators by the provision of a mini-grid regulation has been provided by the Federal Government. Funds for rural electrification have also been provided by the Rural Electrification Agency, through the government and she thereby advised investors and developers to embrace the opportunity and key into the fund.

 

 

 

 

 

ojukotimi
By ojukotimi December 6, 2017 16:52
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