This was revealed in a statement issued by the Office of the Vice President on Thursday.

The ESP was rolled out in 2020 in response to the economic crisis caused by the coronavirus pandemic.

To own a solar unit, there will be the option of paying N4,000 monthly for three years. That translates to N144, 000 a unit.

This was revealed in a statement issued by the Office of the Vice President on Thursday. It was not immediately clear what the other alternatives would be.

Vice President Yemi Osinbajo called the programme a “game-changer” in terms of providing jobs and expanding the use of renewable energy in the country.

The off-grid project is financed by UBA, Sterling Bank, First Bank and Fidelity Bank and its implementation will be driven by the Rural Electrification Agency, REA.

The statement said Mr Osinbajo spoke about the initiative during a virtual engagement with stakeholders involved in the implementation of the Solar Power Naija Initiative on Thursday.

He was quoted to have said, “Our Solar Home System was designed to be a game-changer in the renewable energy space, in other words, it is not just a programme to provide off-grid power alone, but one that creates opportunities for the development of the local capacities in the assembly, manufacture and even maintenance of equipment.”

“We have seen quite a bit of interest already from international and local players across the off-grid solar value chain, there is indeed a lot of interest that we are seeing,” Mr Osinbajo said, according to the statement signed by his assistant, Laolu Akande.

 

Culled from Premiumtimesng