Article by ESI Africa

ESI AFRICA - In Nigeria, the minister of power, works and housing, Babatunde Fashola, has stated that the country can be guaranteed of affordable and improved electricity supply through the deployment of solar energy.

Local media reported that Fashola said that so far the ministry has spoken with more than 12 solar developers and promoters who have given their commitments to a more competitive price regime.

He said: “In the last few weeks, some progress have been made in terms of signing of major solar initiatives, with the support of President Muhammadu Buhari and his vice [president], Yemi Osinbajo.”

Fashola noted: “Before now it was difficult and impracticable to have a solar tariff at 17 cents ($0.060) per kilowatt power (sic), but the cheering news as a result of further interactions, innovations on the side of the developers, private sector and government, is that the new tariff of 11.75 ($0.042) cents has been reached.

“This amounts to about N23 per kilowatt [hour] ($0.081) in terms of a major need for incremental power, which will be of benefit to the entire value chain.”

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