The federal government will spend N2.3trn on the Solar Homes Systems (SHS), under the Economic Sustainability Plan to provide electricity in rural Nigeria.
The announcement was made by Vice President Yemi Osinbajo, who said SHS would provide solar-powered power plants to 5 million households.
According to him, the establishment of small centres would enable at least 25 million people to access electricity in villages across Nigeria.
Osinbajo, at the 2020 Federal Government Planning Summit at the Lagos Chamber of Commerce and Industry (LCCI), said the government has set aside N2.3trn for electricity generation.
He said, “We intend to start the project as soon as possible. Considering that installing solar panels in 5 million homes is not a small task, it must start early.”
He added that the ESP program includes support for small and medium enterprises, external development of local drug processing and production of COVID-19 virus.
The ESP will create jobs in the agricultural sector, where at least five million people will find employment. There are also housing projects. LCCI President, Mrs Toki Mabogunje, said the short-term outlook of the key economic indicators is not looking bright.
“However, we are hopeful that we would turn the corner sooner than later,” she concluded.
Source: Naija News