As part of the Covid-19 recovery strategy, the federal government approved in June 2020 the USD 5.9 billion (NGN 2.3 trillion) NESP in order to stimulate and diversify the economy, retain and create jobs, and extend more protections to the poor.
The plan is articulated around 10 key projects, two being directly related to the energy sector:
– Mass Agricultural Programme
– Extensive Public Works and Road Construction Programme
– Mass Housing Programme
– Installation of Solar Home Systems: $619 million commitment to the Solar Homes Systems Project, which will help install solar home systems for up to 5 million households, serving about 25 million individual Nigerians who are not currently connected to the national grid.
– Strengthening the Social Safety Net
– Support for Micro, Small & Medium Enterprises
– Reduction in NAFDAC registration fees
– Survival Fund
– Promotion of Domestic Gas Utilisation: NGN 113 billion in order to promote the use of gas (CNG and LPG), which Nigeria sees as a bridge from more polluting fossil fuels to cleaner energy.
– Digital Technology