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FG Aims For Eight-Hour Power Supply To Boost MSMEs In 2024

In a bid to enhance the productivity of Micro, Small, and Medium Enterprises (MSMEs) nationwide, the Federal Government is ambitiously working towards providing an uninterrupted eight-hour power supply by 2024. 

Spearheaded by President Bola Tinubu’s administration, this initiative will be executed in collaboration with the Rural Electrification Agency (REA), a key arm of the Federal Government.

Temitola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, unveiled this plan during a special end-of-year program, “2023: Year Of Transition,” hosted by Channels Television. 

Emphasizing the strategic partnership with the REA, Adekunle-Johnson outlined the concerted efforts to implement solar-powered solutions, specifically targeting MSMEs in various markets.

In a statement made on a Sunday interview, Adekunle-Johnson explained the proactive measures being taken.

“We are in deep discussion with the REA, trying to install solar-powered access for MSMEs across many markets. 

What we are doing is that where you have a market that has a cluster of small businesses – maybe a thousand of them – we are trying to power those markets to ensure that these MSMEs come into their businesses daily, they have guaranteed eight hours of light.”

Highlighting the feasibility of the project, the presidential aide pointed out that a successful test run had been conducted in Ariaria Market in Aba, Abia State, during the immediate past administration. 

This move reflects the government’s commitment to fostering a conducive environment for the growth and sustainability of MSMEs, thereby contributing to economic development across the nation.

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