The Rural Electrification Agency (REA) has said it is working to boost 340,000 micro, small and medium enterprises (MSMEs) by solving their energy crisis through its Energising Economies Initiatives (EEI).
In a statement, the agency said the EEI is also helping to assist over 80,000 shops, creating 2,500 jobs across 16 economic clusters that would serve over 18 million, all in one year by providing off-grid electricity solutions for clean, safe, affordable and reliable electricity to the economic clusters.
The efficiency of the initiative which provides opportunities for private sector developers was demonstrated last week when President Muhammadu Buhari commissioned the Ariaria Market Independent Power Project (IPP).
It said the EEI Project supplies power to over 37,000 shops at the Ariaria International Market in Aba, the commercial hub of Abia State.
REA said the Ariaria Market Energy Solutions Ltd (AMES) is the Special Project Vehicle set up to manage the project by the private sector who have fully funded, and constructed the project.
It is a gas-fired power plant with a distribution network and metering systems.
The first 4,000 in the market have been connected and are now receiving constant and affordable electricity, with the remaining shops expected to be connected in 2019, the statement noted.
Commissioning the project, Buhari said, “I am pleased to commission this milestone achievement. Reliable power supply is critical to ease of doing business. We are heading towards moving our economy further.”
The Managing Director of REA, Mrs Damilola Ogunbiyi said “To date almost 10,000 shops have been electrified as part of the Energizing Economies initiative within Ariaria Market, Sabon Gari Market in Kano, Sura Market complex and Iponri market in Lagos, Isikan market in Ondo.”