The Rural Electrification Fund (REF) implemented by the Rural Electrification Agency (REA) yesterday signed agreements for the disbursement of N1.9billion grant for the execution of mini-grid and solar home power projects.
The project is aimed at accelerating economic and human capacity development in rural communities by the rapid deployment of adequate electricity supply to the development of all the sectors of the economy, through private sector developers.
Signing the agreement in Abuja, the Managing Director of the Agency, Damilola Ogunbiyi, recalled that previous administrations had tried to secure the grant for several years in vain but it was actualised in 20 months under the present administration.
She said the grant depended on each project as the fund viewed them separately before providing 25 per cent to 75 per cent of the total project sum. Read more