By Obas Esiedesa, Abuja

The Rural Electrification Agency, REA, has signed a Memorandum of Understanding with Oando Clean Energy Limited to increase the deployment of solar home systems in rural communities across the country.

The deal which is part of the Federal Government’s Solar Power Naija Programme is targeted at boosting energy access to 25 million Nigerians.

The program is expected to generate an additional N7 billion increase in tax revenues per annum and $10 million in annual import substitution.

Speaking at the signing ceremony in Abuja, the Managing Director of REA, Ahmad Salihijo Ahmad explained that one of the best ways to mitigate the effects of subsidy removal in Nigeria is through the exploitation of opportunities to optimize the critical role of renewable energy.

He noted that the REA – Oando collaboration marks the beginning of another timely and strategic partnership targeted at exploring new approaches to clean energy development for socio-economic impact in post-subsidy Nigeria.

“It will bring about mutually beneficial collaboration, knowledge exchange and experiences all targeted at achieving the common goal of optimizing renewable energy’, he added.

Ahmad pointed out that the MoU signing aims to boost collaboration between the private sector and government agencies towards the deployment of sustainable renewable energy access across the country.

He added that “the REA has a history of ensuring whatever kind of financing is available to the REA, there are programmes and initiatives the REA implements that can be used to deliver impact across the nation”.

On his part, the President/CEO, Oando Clean Energy Limited, Dr. Alex Irune, commended the REA for its approach on understanding and leveraging the role of the private sector players to deliver on the task on sustainable energy access across the country.

“Oando is keen on renewable energy and is excited for this opportunity to create value that the country needs”, he added.

Also speaking, the Head of the Solar Power Naija Programme, Barbara Izilien explained that the agency continues to deepen private sector engagements, targeted at drawing in funding, sustainably while expanding access across the nation.