The Federal Government (FG) has said it would electrify five million homes before 2023.
The project, Energy Compact, which is a renewable energy solution would also create 250,000 jobs and impact 25 million people
Speaking at the Seplat Energy Summit in Abuja, the Vice President, Professor Yemi Osinbajo, assured that the implementation of the programme was under way with several sites commissioned.
Osinbajo who was represented by the Minister of State for Environment, Sharon Ikeazor, stated the need to change and expand the electricity sector infrastructure to allow for increased use of variable sources, system flexibility, and electrification of new services, mainly for transport.
FG To Electrify 5m Homes, Create 250,000 Jobs With Renewable Energy
“The earlier mentioned Nigeria’s Energy Compact includes our flagship five million Solar Power Project which aims to electrify five million homes and 25 million people by 2023, and aims to create 250,000 jobs. The implementation of this program is underway with several sites commissioned”.
“The good news is that many solutions already exist, and transitions are already underway and being expanded and scaled up.
“It is recognized, however, that the pace and scale of transition demands finances, expanded innovation in technologies, business models, and market solutions, and an enabling policy framework to continuously improve the existing options and fill the gaps for a decarbonized energy system by 2050 for a sustainable future,” he said.
The Vice President observed that energy transition was the pathway that will provide the transformation of global energy sector from fossil-based to zero-carbon and at its heart is the need to reduce energy-related carbon emissions to limit climate change to meet the goals of the Paris Agreement, to which Nigeria aptly subscribed.
