The Rural Electrification Agency (REA) has committed to harnessing the potential of the 86 million Nigerians currently lacking electricity access to establish the country as the renewable energy leader in West Africa.
During a Memorandum of Understanding (MoU) signing event in Abuja with 10 Renewable Energy Service Companies (RESCOs), REA Managing Director Abba Aliyu highlighted that while many perceive Nigeria’s electricity shortfall as a setback, President Bola Ahmed Tinubu views it as a chance for economic advancement.
He stated, “Our clear mandate is to position Nigeria as the renewable energy hub of West Africa. We have approximately 86 million Nigerians without electricity.
“While some may see this as a challenge, the current administration, under President Tinubu, aims to transform this challenge into an opportunity.
“We aim to harness the potential of the 86 million Nigerians who currently lack access to electricity, positioning Nigeria as the renewable energy hub of West Africa.”
He elaborated on the steps needed to provide electricity to these 86 million individuals, emphasizing the importance of financing, implementation strategies, operational frameworks, and localizing the value chain within Nigeria.
Additionally, he highlighted the necessity for talent development in the renewable energy sector.
Reiterating the current administration’s financial commitment to renewable energy development, he announced that the government has signed the largest public sector-funded renewable project in all of West Africa.
He stated, “It is on record that this government has signed the largest public sector-funded renewable project in the entire West Africa.”
He pointed out that the $750 million Distributed Access through Renewable Energy Scale-up (DARES) project has not only been signed but is already underway.
He added that REA has started with the 14 interconnected mini-grids that would not only create reliability for the underserved, but also be the basis upon which the country would scale up its intervention.
In the bid to scale up the development of renewable energy in the country, he said the agency sought an amendment to the regulation that capped a mini – grid at 1MW.
