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From Isaac Anumihe, Abuja
The Rural Electrification Agency (REA) has obtained total financing amounting to $561 million to finance electrification projects in Nigeria.
While $350 million is from the World Bank, $200 million is from the African Development Bank (ADB).
The fund, according to a statement by the agency, is to finance the Nigeria Electrification Project and an additional $11 million for the financing of the Rural Electrification Fund for the deployment of solar hybrid mini-grids and solar home systems.
These funds, the agency said, will ensure that millions of Nigerians have access to clean, safe, reliable and affordable electricity.
Meanwhile, the Minister of State, Power, Goddy Jedy-Agba, yesterday, inaugurated the Governing Board of the Rural Electrification Agency (REA). The board has Abdulazeez Musa Yar’Adua as Chairman and Managing Director/CEO of REA Engineer Ahmad Salihijo Ahmad as a member.
Other members of the board representing the six geopolitical zones include Engineer Michael Oluwagbemi (representing the South West), Chidi Emmanuel Nwogu (representing the South East), Catherine Ajibike (representing the South-South), Dr Abdullahi Garba (representing the North West), Dr Abdul Umar (representing the North East), while Mohammed Kabir Badamasuiy (represents the North Central).
Also, to enhance partnerships and improve the synergy with critical agencies which are supportive of the REA in achieving its mandate, the following government organisations are represented on the governing board with ex-officio capacity.
These are the Federal Ministry of Power (Supervising Ministry), Federal Ministry of Finance, Budget and National Planning as well as the Bureau for Public Enterprises (BPE).
In addition, Dr Sanusi Ohiare has been re-appointed as the Executive Director, Rural Electrification Fund (REF), for another five-year term to continue the expansion of the REF and contribute to the continued development of the agency.
“REA is one of the top-performing parastatals under the supervision of the Ministry of Power as it has continued to roll out solar off-grid power solutions and grid extension to millions of unserved and underserved Nigerians. REA has been successful particularly because of critical partnerships with key government counterparts and both national and international stakeholders” the agency, said.
