The Federal Government has announced the commencement of the $750 million World Bank-funded rural electricity project in November.
It said the project will provide over 17.5 million Nigerians with new or improved access to electricity through distributed renewable energy solutions.
The Managing Director of the Rural Electrification Agency, Abba Aliyu, disclosed this when he appeared on Channels Television’s Sunrise daily program on Thursday.
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Recall that in December 2023, the World Bank announced the approval of the Nigeria Distributed Access through Renewable Energy Scale-up project, being financed by $750 million International Development Association credit and would leverage over $1 billion of private capital and significant parallel financing from development partners.
The financing from development partners includes $100m from the Global Energy Alliance for People and Planet and $200m from the Japan International Cooperation Agency.
Other development partners collaborating on the program include the United States Agency for International Development, the German Development Agency, SEforAll, and the African Development Bank.
But 10 months after its approval, the REA MD noted that the project would begin implementation next month without stating reasons for the delay.
He explained that three million anticipated beneficiaries would be connected through the isolated mini-grid, 1.5 million Nigerians through the interconnected mini-grip, and 12 million would be electrified using a merged grid and solar stand-alone system.
Aliyu said, “There is a new project that we are starting next month called the Distributed Renewable Energy Scale-up project which is a $750 million financed by the World Bank.”
“The target of that project is to electrify 17.5 million Nigerians, and I must say that this is one of the most ambitious projects in the world based on my understanding from India that has moved many unelectrified people to have access to electricity.
“Three million of them through the isolated mini-grid, 1.5 million Nigerians through the interconnected mini-grid, and 12 million would be electrified using a merged grid and solar stand-alone system.”
Aliyu further said the project is estimated to last for five years and was built on successes recorded from similar projects in the past, which cost $550 million and were funded by the World Bank and the African Development Bank.
