Solar power: FG attracts investors with pioneer status

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said investors can now manufacture solar systems in the country following the recent review of the pioneer status incentive.

Fashola stated this in Lagos on Thursday at the launch of the book, entitled ‘Solar Electricity Generation for Off-grid Communities in Nigeria,’ written by the Managing Director/Chief Executive Officer, Eko Electricity Distribution Company, Dr. Oladele Amoda. He said solar power had become the new energy and the energy for tomorrow, affirming the Federal Government’s commitment to encouraging investors in the solar space.

“Today, our energy production has grown from 2,600-plus megawatts in 2015 to 7,000MW. Our wheeling capacity has increased to close to 7,000MW; what we need to do now is to knuckle down with the Discos and expand the distribution capacity. But even if we do all of that, it probably will not be enough because it just means that only the people who are connected to the grid really will benefit,”

Photo Caption: Minister of Power, Works and Housing, Mr. Babatunde Fashola