FG Targets ₦7 Billion Tax Returns From Solar Power Scheme

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The Minister of Power, Engr. Sale Mamman, has said Nigeria will rake in N7 billion in tax revenue and another $10 million as annual import substitute from the ongoing Solar Power Naija scheme.

The minister disclosed this at the weekend during the launch of the second phase of the scheme at the Jangefe community in Jigawa state.

Through this second phase, the government will deploy 100,000 units of Solar Home System (SHS) while aiming to deploy five million connections at the end of the scheme, with 25,000 persons expected to benefit from the initiative.

Mamman explained that the project is being developed by Asolar Technology and the Niger Delta Power Holding Company (NDPHC) with funding from the Central Bank of Nigeria (CBN) through credit facility from Sterling Bank under the management of the Rural Electrification Agency (REA).

Vice President Yemi Osinbajo who launched the project in the community said the N140bn Solar Power Naija programme which is part of the Economic Sustainability Plan (ESP), would create over 250,000 jobs, as part of reversing the effects of the COVID-19 pandemic.

“President Muhammadu Buhari approved the powering of five million homes to create jobs for those that will install, maintain as well as those in the payment solar home system.”

He also lauded NDPHC for leading renewable energy access as the firm had in the past implemented 20,000 SHS installations. It has become “an important catalyst for off-grid solar systems” in Nigeria.

The Managing Director of NDPHC, Chiedu Ugbo, said, “Those 20,000 units are working as we speak and then the government asked us to do another five million solar connections, that will include solar home systems and mini-grid, off-grid solutions.”

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He noted that the second phase of the programme targets 100,000 SHS installations with provisions for full ownership after homeowners pay N3,500 monthly rent fee for five years.

Governor Muhammadu Badaru of Jigawa state said the project will enhance social and economic sustainability in the state.

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