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Home Economy Finance

Nigeria Spends N45.89b on 1,375 Electricity Projects in 3years

by Justice Godfrey Okamgba
April 17, 2023
in Finance
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The most recent data from the Rural Electrification Agency shows that the Federal Government finished 1,375 rural electricity projects in diverse communities across the 36 states with a total of N45.89 billion over a three-year period.

The agency carried out these projects between 2020 and 2022 which included expanding the capacity of the national power grid, increasing the number of mini-grids, deploying solar household systems, and putting up solar street lights.

This was contained in the report of the agency on strategic interventions for the year 2022 seen by TechEconomy.

According to the REA report on its strategic interventions for the year 2022, the Agency also lighted up Communities with 450MW Power in 3 years, where the impact assessment played a pivotal role in addressing challenges, such as inaccessible technology, electricity, and water; gender inclusion; overreliance on petrol and diesel, among others.

“This assessment is important in improving the outcome and impact of future interventions. The electrification programs, and projects alike, were successful, with acceptance in the beneficiary communities.

Beneficiaries consisting of main farmers, households, women, and youths were deeply impacted from a social, environmental, and economic standpoint,’’ the report said.

The agency reported that REA has carried out more than 2,000 electrification projects over the past ten years, affecting an estimated 5,000,000 Nigerians nationwide.

According to the report, the total installed capacity for the capital projects was anticipated to be more than 600 MW or more than 1,000,000 connections.

According to the report, six communities will have 100 kW solar mini-grid systems installed by 2022. The systems were created to give priority to productive users, such as agro-processing companies, residences, business users, and public areas.

‘’Over 8,155 lives and 5,000 active farmers have been impacted with uninterrupted power supply and clean affordable water, translating to over 60 direct and indirect jobs created, improved security, increased productivity, improved healthcare, as well as the decommissioning of over 40 diesel and petrol gen sets.

Based on the current and future estimations, the reductions in carbon emissions were also encouraging,’’ the report said.

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  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

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Justice Godfrey Okamgba

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