EconomyFeaturedNational

Nigeria gets ₦10b power investment as FG insists on renewable

The Federal Government, yesterday, said off-grid solutions would be prioritised, as over 92 million people are without access to electricity. At the groundbreaking of a 900KW interconnected solar hybrid mini grid in Abuja, Minister of Power, Adebayo Adelabu, said energy poverty remained a concern in the country, adding that renewable energy would be prioritised amid the challenges of the national grid and climate change.

Decrying that grid supply hovers between 4,000 and 5,000 megawatts, the minister, who was represented by a deputy director in the ministry, Ben Ayangeaor, promised that the government would meet the demand for incremental power through renewable sources.

Adelabu said the new project is being sponsored by the Koreans, adding that four of similar projects are being bankrolled through the country’s Official Development Assistance (ODA).
The Korean Ambassador to Nigeria, Kim Young-Chae said about N10 billion ($12.4 million) is being spent on infrastructure development. Beyond providing electricity, Chae observed that the project champions eco-friendly solutions from an affordable energy source, adding that communities benefiting from the initiative are poised to enjoy high-quality electricity at cost-effective rates, a crucial step towards sustainable development.

The project, located at Rubochi community, was done with the collaborative endeavour orchestrated by the Ministry of Trade, Industry and Energy of Korea, in partnership with the Korea Institute for Advancement Technology (KIAT).

Implemented through the Rural Electrification Agency, Managing Director of REA, Ahmad Salihijo said the Federal Government had officially signed a Memorandum of Understanding (MoU) with the Korean Institute for Advancement of Technology (KIAT) to develop four mini-grids within the Federal Capital Territory.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
WP2Social Auto Publish Powered By : XYZScripts.com