FG Says World Bank Electricity Project Powered Over 45,000 MSMEs, Others

FG Says World Bank Electricity Project Powered Over 45,000 MSMEs, Others

  • Thousands of businesses were powered in Nigeria using 103 mini-grid, according to REA
  • MSMEs, homes, and buildings have benefited from the Nigeria Electrification project financed by the World Bank since its implementation
  • The agency noted that an additional 281,578 connections were already in progress to be completed in the future

The federal government, through the Rural Electrification Agency, REA has stated that 103 mini-grids were used to electrify 46,661 small, medium-sized businesses, homes, and public buildings.

It noted that the mini-grids were installed nationwide as part of the Nigeria Electrification Project's Performance-Based Grant subcomponent, which was financed by the World Bank.

FG mini grid
Over 45,000 MSMEs, Others enjoyed world bank electricity project Credit: EnergyMatters
Source: UGC

Recall that Legit.ng reported that Nigeria's average electricity production increased from 3,655.64 megawatts (MW) reported in the same time of 2022 by 8.6% year-on-year to 3,970.33 MW in July 2023.

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An earlier report also highlights that the National Bureau of Statistics has announced that Nigerians, including companies and government agencies, paid a total of N828 billion for electricity in 2022.

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REA is committed to closing the energy access gap in Nigeria

According to the report, this was a significant step forward in improving energy availability for households, MSMEs, and public facilities in Nigeria's rural and underdeveloped areas.

The Managing Director/Chief Executive of REA, Ahmad Salihijo, stated that the organisation was committed to closing the energy access gap in Nigeria while speaking during the 10th Mini-Grid Roundtable discussion, which was conducted remotely.

He pointed out that the organisation is carrying out several electrification activities, such as the Nigeria Electrification Project, which aims to make a lasting impact by promoting economic growth, enhancing education, and improving Nigerians' overall quality of life.

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He stated that over 80 mini-grids have been constructed and put into service, connecting around 32,000 families, MSMEs, and public institutions and supplying clean and dependable power through the NEP.

He added that the PBG has effectively lured private sector investments in mini-grids.

With a total of 46,661 verified connections to homes, MSMEs, and public institutions, Salihijo said that the solar hybrid mini-grid component had achieved outstanding success.

He revealed that there were currently 281,578 connections being made as the organisation prepared to increase the project's effect and scope.

He added that each connection is a step towards closing the energy gap and promoting economic growth.

Abba Aliyu, the head of the NEP's REA Project Management Unit, expressed pleasure with the result.

According to him, the accomplishment highlights the company's dedication to offering dependable and sustainable energy solutions to long-underserved communities.

He stated:

“Our goal has always been to empower communities with the power of electricity. These 103 mini-grids represent brighter futures, improved livelihoods, and opportunities for growth.”

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He said over 230,000 people nationwide had benefited from the project, and this had caused significant improvements in their daily routines, economic activity, and general quality of life.

Electricity supply to improve in Nigeria as CBN releases N3.01bn to Distribution Companies (DisCos)

Legit.ng earlier reported that the Central Bank of Nigeria has disclosed the release of N3.01 billion to electricity distribution companies (DisCos). This amount is the latest release of a total of N213 billion Nigerian Electricity Market Stabilisation Facility.

The recent release also rounds up to a total of N18.26 billion so far disbursed to the first batch of beneficiaries of the programme.

According to the CBN governor, Godwin Emefiele, the intervention was made to improve the liquidity status of DisCos and aid their recovery of legacy debt which has been a major hindrance to their operations.

Source: Legit.ng

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