FG approves $750m to deploy 1,350 mini-grids

President Bola Tinubu has approved $750 million for the deployment of 1,350 mini-grids to electrify over 2.5 million Nigerians.
Speaking when Alpha Morgan Bank and the Rural Electrification Agency (REA) signed a N50 billion Memorandum of Understanding (MOU) to accelerate electricity access in underserved communities in Nigeria, Managing Director and Chief Executive Officer (MD/CEO) of REA, Abba Abubakar Aliyu, said that what is required to address the electricity challenge in Nigeria and enhance the reliability of supplies is about $23 billion.
“And what we have currently is less than $2.5 billion. So, that is why we need to continue to crowdfund this financing. And we are expecting a...