Agency signs $395m deal to boost rural electricity – MD

The Rural Electrification Agency (REA) says it has signed 267 agreements worth about $395 million to provide electricity to unserved and underserved Nigerians under the Nigeria Electrification Projects.

The Managing Director, Mr Salihijo Ahmad, told journalists in Abuja that the Nigeria Electricity Programme was currently funded by a 350 million dollar World Bank loan and 200 million dollar African Development Bank (AfDB) loan to provide electricity to Nigerian communities.

He said that about 64.8 million dollars of the commitments had been disbursed to private sector partners for the execution of the projects.
According to him, the programme is expected to provide off-grid reliable and clean electricity supply to 705,000 households, 90,000 micro, small and medium enterprises.
It would also provide 100 isolation and treatment centres and 400 primary healthcare centres in unserved and underserved areas of the country.

Ahmad said that with the Rural Electrification Fund, which is private sector driven, REA became a hub and an enabler to ensure that funding comes from different areas to enable it deliver on its mandate.