By Adewale Sanyaolu
The federal government through the Rural Electrification Agency (REA) has concluded plans to raise about N1 trillion for the execution of renewable energy projects across the country.
Managing Director of REA, Mr. Abba Abubakar Aliyu, stated this on the sidelines of the official launch of Bellazir Energy in Lagos on Tuesday.
This was as he clarified that the agency has been able to tackle legacy issues, including the completion of some abandoned projects.
“To date, there’s no single abandoned project under the REA. We have paid all outstanding dues to contractors, mobilized them back to project sites, and completed these projects,” he said.
There may be some incomplete ones due to limited budgetary provisions, but they are not abandoned.”
According to him, REA is also set to begin the implementation of the Renewable Energy Asset Management Company which, he said, has received approval from the Minister of Power.
The company, he said, would warehouse all the big projects of REA on its balance sheet to leverage same for funding to the tune of about N1 trillion for continuous implementation of project.
He added that REA also plans the establishment of the Renewable University which is currently undergoing feasibility study through a consulting firm.
He explained that the plan is to create a university focused on training experts and developing solutions for renewable energy in Nigeria.
He noted that the university will be a crucial step in addressing Nigeria’s power supply challenges and promoting sustainable energy practices.
According to him, the university will be dedicated to research, development, and training in the field of renewable energy while it aims to address Nigeria’s energy needs by developing local expertise and providing in-house solutions for renewable energy.
“We are also looking at completing the Energising Education Programme(EEP_ phase 3 and 4 comprising of 16 Universities which included; universities of Yola, Port Harcourt, Uyo, FUT, Imo, Nassarawa, Lokoja, Yola, OAU,Ile- Ife, Ibadan, Lagos, Nsukka, ABU, Benin, Taraba and Jigawa-Dutse.
Aliyu emphasised the federal government’s commitment to encouraging indigenous solar panel production and reducing reliance on imports.
The REA boss said he recently visited a 100-megawatt capacity PV panel manufacturing plant in Ikotun, Lagos, where he assessed the company’s production standards and quality control systems.
“There has been some debate about whether the federal government is banning the importation of PV panels. Our goal is not to ban but to promote local manufacturing and support companies already operating in this space,” Aliyu explained.
He added that such visits help the agency understand the challenges facing local manufacturers and allow it to support and expand renewable energy investments.