REA – NEP Signs more PBG & OBF Grant Agreements

NEP SIGNS MORE PERFORMANCE BASED GRANT (PBG) & OUTPUT BASED FUND (OBF) GRANT AGREEMENTS WITH MINI-GRID AND SHS DEVELOPERS

As we deepen the impact of the Nigeria Electrification Project (NEP), while powering Nigeria, one community at a time through the programme, we have continued to work in lockstep with private sector developers who are leveraging the PBG and the OBF.

Earlier today, we held a Grant Agreement (GA) signing for the Performance Based Grant (PBG) and Output Based Fund (OBF), both funding mechanisms under the NEP deliberately designed to catalyze private sector investment in the off-grid space through NEP.

Messer’s Metikon Engineering Limited and Energy Afric International Limited signed under the OBF, while News Engineering Nigeria Limited signed under both OBF & PBG for successfully scaling through all our processes and meeting the NEP requirements.

Funded by the World Bank and African Development Bank, NEP is a Federal Government programme designed for real, sustainable socio-economic impact, beyond keeping the lights on. With the recent grant agreements signed on the 2nd of March, 2022, we anticipate a substantial increase in the distribution of solar home systems as well as an upsurge in the deployment of mini grids to rural communities across Nigeria which will enable us electrify an estimated 1 million households by 2023.

While congratulating the developers, Engr. Ahmad Salihijo Ahmad, the MD/CEO of REA urged them to continue to show a high level of commitment in order to achieve the goal of electrifying Nigeria, one Community at a Time.

He also stated that the REA intends to continue to encourage critical stakeholders to deliver quality projects that meet the Federal Government’s as well as the Nigerian public’s expectations.

Anita Otubu, the Head of the NEP – Project Management Unit also explained that she will ensure project transparency and the fulfilment of the project’s objectives, while expecting a high level of performance and commitment on the developers’ part.

Click to see photos from the signing event