Deepening the Impact of REA's Energizing Economies Initiative (EEI):
the recent fuel subsidy removal, the Management of the REA, led by MD/CEO Engr Ahmad Salihijo, visited the popular Aiyegbaju international in Osogbo on Friday June 16th, 2023 where the Agency is currently constructing a 30KwP solar hybrid mini-grid under the Agency's Energizing Economies Initiative (EEI). Over 148 sites have been audited directly through the REA and with support from partners such as E-guide and Rockefeller Foundation. It is from these sites that Ayegbaju International Market Osogbo and Abubakar Gumi Markets were selected to deliver the next phase of EEI projects. These projects are taking into account the lessons learnt from Phase 0 and 1 of the Initiative and will look to be models for sustainable and collaborative projects with the States and Distribution Companies. Once the construction is completed, the State Government and/or Distribution Company, Developer, and REA will be able to collaborate with the Market Association to sign a multilateral agreement which ensures the long-term viability of the project while ensuring energy access to the markets. These projects will also provide the much-needed relief to the businesses in these markets, especially with the recent subsidy removal, by reducing the dependency of petrol generators while increasing the penetration of renewable energy sources.
