The Nassarawa State Governor, Abdullahi Sule yesterday granted a special tax holiday for Renewable Energy Service Companies (RESCOs) developing mini-grids. He anchored the tax waiver on the benefits accruable to the communities from the investment. “There is a special tax holiday for renewable energy because it is a win-win situation for you and our communities…
The Rural Electrification Agency (REA), in partnership with the Lagos State government, is set to launch Nigeria’s first floating solar power plant, a landmark project to bridge the energy gap in the state. Unveiled during the Lagos Energy Summit, the initiative is part of a broader collaboration with the REA, culminating in the signing of…
International lenders and partners this week committed another $8 billion in financing to a $48-billion project by the World Bank and African Development Bank (AfDB) to connect a total of 300 million people in Nigeria and the other African countries to electricity by 2030. AfDB Group and the World Bank Group plan to allocate $48…
About 700 million people, equivalent of 8.5 per cent of the global population now live in extreme poverty on less than $2.15 a day, according to a World Bank report. The bank also added that around 3.5 billion people live on less than $6.85 a day. In a report,” 2024 Key Development Challenges in Nine…
After months of negotiation, partnership, and unwavering commitment from donor community, the 21st replenishment of the International Development Association (IDA) has raised $24 billion in donor contributions, the World Bank President, Ajay Banga has said. According to him, with IDA’s unique leveraging model, this $24 billion will generate a total of $100 billion in affordable…
The Rural Electrification Agency (REA) has announced the provision of $550m in funding by the World Bank (WB) and the African Development Bank (AfDB) to support the implementation of its off-grid solution projects. Mr Ahmed Abubakar, Communication Expert, REA, who made this known in a statement in Abuja, on Monday, added that out of the…
