REA AND SMEDAN JOIN FORCES TO POWER UP MSME GROWTH WITH CLEAN ENERGY SOLUTIONS, ACCELERATING NIGERIA'S ENERGY TRANSITION
Abuja, Nigeria – May 23, 2024 – In a significant step towards achieving universal energy access and accelerating Nigeria's energy transition, the Rural Electrification Agency (REA) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a Memorandum of Understanding (MOU). This strategic partnership marks a crucial step in unlocking the growth potential of Micro, Small, and Medium Enterprises (MSMEs) by providing them with access to reliable and sustainable alternative energy solutions.
The collaboration between REA and SMEDAN directly aligns with REA's long-held ambition of providing clean and dependable energy solutions that drive socio-economic development, particularly in underserved areas. With the recent surge in fuel prices, the need for MSMEs to adopt more cost-effective and sustainable energy solutions is more critical than ever. This partnership aims to empower MSMEs with clean energy access, enabling them to:
• Reduce Energy Dependence on rising fuel Costs
• Boost Efficiency and Productivity
• Enhance Profitability
• Promote Environmental Sustainability.
• Building a Stronger, More Sustainable Economy
Beyond the immediate benefits, the REA-SMEDAN partnership aims for long-term economic empowerment and a sustainable future. By championing locally produced renewable energy technologies, this collaboration fosters job creation and supports the growth of Nigeria's clean energy sector, further advancing the nation's energy transition. Localizing renewable energy and energy transition value chains creates opportunities for skill enhancement and knowledge development. Through joint training programs, MSMEs will acquire the technical and entrepreneurial skills necessary to effectively utilize clean energy solutions, ensuring their operations become more efficient and sustainable.
Quotes:
Abba Aliyu, Managing Director of REA, expressed enthusiasm about the partnership, stating: 'This MOU with SMEDAN represents a significant step towards universal energy access and advancing Nigeria's energy transition. By empowering MSMEs with clean and reliable energy, we're not only fueling their growth but also contributing to Nigeria's broader economic and sustainability goals, particularly in the face of rising energy costs.'"
Charles Odii, Director-General of SMEDAN, highlighted the agency's strategic focus: 'Our collaboration with REA perfectly aligns with our mission to create a thriving and sustainable MSME sector. Access to clean energy is essential for small businesses to flourish, and this partnership ensures they can operate more efficiently and sustainably, while playing a key role in Nigeria's energy transition.'"
About REA:
The Rural Electrification Agency is dedicated to accelerating the electrification of rural and underserved areas in Nigeria. Through innovative projects and strategic partnerships, REA aims to provide sustainable energy solutions that drive socio-economic development.
About SMEDAN:
The Small and Medium Enterprises Development Agency of Nigeria focuses on promoting and facilitating the development of MSMEs. By providing business development services, access to finance, market opportunities, and capacity-building programs, SMEDAN aims to create a thriving MSME sector that supports Nigeria’s economic growth.
