The Rural Electrification Agency (REA) has said that a lot of potentials that worth $9.2bn abound Nigeria’s mini-grid electricity market.
It said in its study on Nigeria’s mini-grid market, that there were enormous opportunities than challenges in it, noting that mini-grid investment was a fertile ground for interested investors in Nigeria, and could help in the improvement of power supply.
In a presentation titled “Overview of the Off-Grid Opportunities and Challenges in Nigera,” delivered by the Managing Director of REA, Damilola Ogunbiyi, during a mini-grid conferencen, in Abuja, she said that the Federal Government had created a fertile business environment that would make mini-grid operations thrive.
She added that REA had made arrangement for rural electrification fund, which mini-grid investors can benefit from.
She disclosed that a $350 million support from World Bank would be used to prop up mini-grid projects in Nigeria, adding that both individuals and corporate bodies would gain from it.
