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Fed Govt Recovers Over $64m Electricity Debt Abroad

The Federal government says that it has recovered 64.6 million dollars electricity debt from its international customers. Minster of Power, Works and Housing, Babatunde Fashola announced  this at the 21st monthly power sector meeting in Asaba. The money recovered was from  Benin and Niger Republics. The minister also announced that Rural Electrification Agency (REA) had completed guidelines for the operation of the rural electrification fund to help vulnerable groups and communities gain access to funding for their electricity development programme. "By way of explanation, the rural electrification fund was created by section 88 of the Electric Power Sector Reform Act (EPSRA) of 2005 to promote support and provide rural  electrification  access. "The fund will provide a partial single payment capital subsidy and or technical assistance to eligible private Rural Power Developers, NGOs or communities to invest in options such as hybrid mini grids or solar home systems to scale up rural access to electricity. "What they are likely to get are minimum amounts of N3.5m and maximum amounts of  N106m or 75 per cent  of project cost  whichever is less, he said, adding that REA will publish details of  the guidelines and eligibility. The minster thanked well-meaning Nigerians who acknowledged that their experience on the power supply had improved, adding that their honesty inspired government and the operators  to  continue the improvement. He, however, admitted that there were other challenges that  must  be addressed.

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