The federal government has recovered $64,630,055:00 (N23billion) from her international customers in Benin Republic and the Republic of Niger.
This was made known by the Minister of Power, Works and Housing, Babatunde Fashola, at the 31st power sector stakeholders monthly meeting hosted by Benin Electricity Distribution Company (BEDC) in Asaba, Delta State. The minister also noted that the Nigerian Electricity Bulk Trader (NBET) will work out modalities for distribution.
The federal government had in recent times repeatedly called on neighbouring West African countries that are its international customers to endeavour to pay up their bills to enable Nigeria to invest more in power and stabilise supply at local as well as international levels.
Furthermore, the minister made it known that the Rural Electrification Agency (REA) had completed the guidelines for the operation of the rural electrification fund, which will help vulnerable groups and communities gain access to funding to support their electricity development programme. He said that the fund will provide a partial single payment capital subsidy and technical assistance to eligible private rural power developers, NGOs or communities to invest in options such as hybrid mini-grids or solar home systems to scale up rural access to electricity.
“Those who will be served are the unserved and underserved Rural Communities. What they are likely to get are minimum amounts of $10,000 (N3.5m) and maximum amounts of $300,000. (N106m) or 75% of project cost, whichever is less”, he said, adding that REA will publish details of guidelines and eligibility in due course and that rural power developers would get between N3.5 million to N106 million to improve rural electricity.
