Using N240m, BoI electrifies 1,200 rural households with solar power

About 1,200 rural households and businesses across six states in Nigeria are now being served electricity from solar power systems the Bank of Industry (BoI) built with N240 million, the bank has disclosed.

BoI stated at a recent summit in Abuja that electricity from the solar power projects had boosted the operation of various small and medium businesses in the six states.

According to its Managing Director, Olukayode Pitan, who was represented by the former Acting Chief Executive of BoI, Mr. Waheed Olagunju, the power systems which were built in the ongoing Access to Renewable Energy project were financed by the bank in partnership with the United Nations Development Programme (UNDP).

He disclosed that the six solar energy projects were located in Gombe, Anambra, Niger, Osun, Kaduna, and Edo states, and have all been inaugurated.

“Our pilot solar project that we financed to the tune of N240 million have all been commissioned and the developmental impact in those six locations are quite enormous. The project is run on pay as you go basis.

“The rural people go to the installations in their environments, they pay and they are given a code and they load the codes on their system. About 1,200 houses have been connected, as well as many other businesses and they are doing quite well,” said Pitan.