The Federal Government, in partnership with state governors and private investors, has secured nearly $500m to establish solar manufacturing plants across Nigeria, the Minister of Power, Adebayo Adelabu, has disclosed.
Adelabu made this known at the ongoing Nigeria Energy Conference in Lagos, where he also announced that Nigeria had begun exporting locally manufactured solar panels to Ghana, marking a milestone in the country’s renewable energy drive.
According to him, following the recently concluded Nigerian Renewable Energy Innovation Forum organised by the Rural Electrification Agency, the government secured agreements worth nearly $500m with state governors and private investors.
The initiative, he said, would add close to 4 gigawatts of solar manufacturing capacity per annum, almost 80 per cent of Nigeria’s current total power generation capacity.
“At the recently concluded Nigerian Renewable Energy Innovation Forum, we successfully activated agreements totalling almost $500m with state governors and investors. What will this do? It will bring on stream nearly 4 gigawatts per annum of solar manufacturing capacity, equivalent to almost 80 per cent of our current national generation capacity,” he stated.
