The Nigerian authorities have just greenlit the release of N3.2 billion to a private company aimed at bringing 1.2 megawatts of peak mini-grid power to tucked-away communities across Bauchi State.
This update came directly from the Rural Electrification Agency in an announcement shared over the weekend.
The agency explained that this funding allows the energy firm to roll out a total capacity exceeding 1.2 MWp across several key locations, which breaks down to 450 kWp for Gabarin East, 400 kWp for Futuk, 200 kWp for Gangalawai, and 150 kWp for Daburai (Gabarin West).
According to federal officials, this move is a core component of the Renewable Energy Scale-up, DARES, Program, supported by a N100 billion revolving credit line set up with a local Nigerian bank.
“The funding mechanism is rooted in a landmark Memorandum of Understanding signed in February between the REA and Lotus Bank, which established a N100 billion revolving credit facility.
“Under this framework, developers can access up to N8 billion in equipment procurement financing with tenures of 18 months,” the statement reads.
Reflecting on the progress, the Managing Director of the REA, Abba Aliyu, pointed out that the real win here isn’t just the money, but how smoothly and transparently the whole system is actually working.