Nigeria is gearing up to tackle its chronic shortage of electricity. The World Bank, the International Finance Corporation as well local banks and energy firms are partnering up to help develop a private sector that will provide electricity, using solar power, to a million households who lack access to Nigeria’s national power grid. The World Bank plans to do this by providing low-interest financing for investors and energy firms. The Lighting Africa Project, as it has been named, aims to power rural communities and will play a key role in helping Nigeria meets its ambitious plan to cut down emissions by as much as 45% by 2030. It will also reduce Nigeria’s heavy dependence on kerosene lamps and gasoline-powered generators which pose various health and environmental risks. Nigeria won’t be the only country moving towards renewable energy, as the African Union recently announced a $20 billion investment in renewables over the next decade.
Nigeria is betting on solar power to reach a million homes without access to the grid
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