REA unveils funding guidelines for rural electrification projects

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Power minister, Mr. Babatunde Fashola, has disclosed that rural electrification projects seeking for funding from the Rural Electrification Fund (REF) of the Rural Electrification Agency (REA) would be able to get up to 75% of the funds they need through the REF, OGN reports.

Fashola, disclosed on Monday in Asaba that the REA has finally released a guideline which it will utilize in the management of the REF, and funding of rural electrification projects that are approved to benefit from it.

He said on the minimum, projects’ initiators would be able to get up to $10,000 and $300,000 on the maximum to execute their projects if approved to benefit from the REF. The minister noted that the REA will shortly publish details of guidelines and eligibility.