FG to start $750 million World bank rural electrification project next month

Oct. 3, 2024 - Nairametrics

The Rural Electrification Agency (REA) has disclosed it is starting a new rural electricity project next month financed by the World Bank to the tune of $750 million to provide electricity to 17.5 million Nigerians.

According to him, the Distributed Renewable Energy Scale up project is targeted at providing electricity for up to 17.5 million Nigerians using renewable energy source.

He said, “There is a new project that we are starting next month called Distributed Renewable Energy Scale up project which is a $750 million financed by the World Bank. Other partners supporting the program include the United States Agency for International Development (USAID), the German Development Agency (GIZ), SEforAll, and the African Development Bank (AfDB).

Nigeria also has enormous potential in renewable energy generation having sunlight for up to 12 hours daily in the Northern region and significant wind and hydro power generation potentials...