FG, Oando Sign MoU to Boost Renewable Energy Access

Olufemi Adeyemi 

The Federal Government has signed a Memorandum of Understanding with Oando Clean Energy Limited (OCEL) to boost the deployment of sustainable renewable energy access (REA) across the country.

Represented by the Rural Electrification Agency, the government announced on Monday that the MoU with OCEL was also part of measures adopted to further mitigate the harsh impact of the removal of subsidy on Premium Motor Spirit, popularly called petrol.

The MoU was signed at the corporate headquarters of REA in Abuja on Tuesday, June 13, 2023. According to the MoU, forming the basis of a Public-Private arrangement between REA and OCEL to achieve the objectives of the Agency in the electrification of rural communities, specifically through the deployment of solar infrastructure (solar power solutions).

The REA, in a statement issued in Abuja, said the agency would continue to play a key role in the nation’s off-grid renewable energy space by drawing in private sector investment, facilitating inter-sectoral collaboration and aiding the implementation and delivery of off-grid solutions nationwide.

It added that the Oando brand activated its clean energy subsidiary, Oando Clean Energy Limited in 2021, adding that the REA-Oando collaboration was targeted at exploring new approaches to clean energy development for socio-economic impact in post-subsidy Nigeria.

Speaking at the MoU signing, Ahmad Salihijo, the Managing Director & CEO of REA, said that one of the best ways to mitigate the effects of subsidy removal in Nigeria is by exploiting opportunities to optimize the critical role of renewable energy.

He further expressed his delight about the REA and Oando partnership, saying that it will bring about mutually beneficial collaboration, knowledge exchange and experiences all targeted at achieving the common goal of optimizing renewable energy.

June 16, 2023