To support the economic recovery in response to the COVID-19 pandemic, the Federal Government of Nigeria (FGN) has launched an initiative as part of the Economic Sustainability Plan (ESP) to achieve the roll out of 5 million new solar-based connections in communities that are not grid connected. This program is expected to generate an additional N7 billion increase in tax revenues per annum and $10 million in annual import substitution
The Solar Connection Intervention Facility will complement the Federal government’s effort of providing affordable electricity to underserved rural communities through the provision of long term low interest credit facilities to the Nigeria Electrification Project (NEP) pre-qualified home solar value chain players that include manufacturers and assemblers of solar components and off-grid energy retailers in the country.
The 5Million Solar Power Naija connection scheme is a Federal government initiative whose objectives are to:
I. Expand energy access to 25 million individuals (5 million new connections) through the provision of solar home systems (SHS) or connection to a mini grid;
II. Increase local content in the off-grid solar value chain and facilitating the growth of the local manufacturing industry.
III. Incentivize the creation of 250,000 new jobs in the energy sector.