FG launches N100bn solar power projects for public institutions

The Rural Electrification Agency (REA) has announced the launch of a N100bn project to provide solar electricity for public institutions. A statement said the launch followed a signing of a Memorandum of Understanding with the Budget Office of the Federation, Infrastructure Corporation of Nigeria (InfraCorp), and the Ministry of Finance Incorporated (MOFI), marking the official […]

The Rural Electrification Agency (REA) has announced the launch of a N100bn project to provide solar electricity for public institutions.

A statement said the launch followed a signing of a Memorandum of Understanding with the Budget Office of the Federation, Infrastructure Corporation of Nigeria (InfraCorp), and the Ministry of Finance Incorporated (MOFI), marking the official launch of the National Public Sector Solarization Initiative (NPSSI), a flagship, government-led programme designed to accelerate the deployment of distributed solar energy solutions across Nigeria’s public sector institutions, including schools, hospitals, security posts, government offices, and more.

It said the initiative was birthed from a strategic national priority and the urgent need to power critical infrastructure with clean, reliable energy, while moving away from diesel dependence and reducing the public sector’s carbon footprint.

The Managing Director/CEO, Abba Abubakar Aliyu, of REA said  phase 0 of the NPSSI is fully funded by the federal government to the tune of N100bn while subsequent phases will harness innovative and blended financing models, leveraging private capital from both local and international long-term funders, all under structures that eliminate sovereign guarantees and contingent liabilities.

Aliyu said the NPSSI is part of a broader strategy to position Nigeria as the renewable energy hub of Africa, while promoting innovation, local manufacturing, and sustainability in energy infrastructure financing in Nigeria.

The Director-General of the Budget Office of the Federation, Dr. Tanimu Yakubu, emphasized the significance of the initiative in addressing Nigeria’s long-standing energy gap and strengthening the fiscal efficiency of public sector operations.

MD/CEO of InfraCorp, Dr. Lazarus Angbazo, hailed the initiative as a model for the future of infrastructure financing in Nigeria.