Nigeria lost $ 25 billion every year due to lack of electricity – Rea

The Director of the Rural Electrification Agency (REA), Abba Aliyu, said that on Friday Nigeria lost at least $ 25 billion every year due to lack of electricity.
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He stated this during the signing of a memorandum of understanding between the Rural Electrification Body and the Galaxy’s backbone in Abuja.

This agreement aims to send electricity and digital connectivity to public institutions such as schools, hospitals, and security institutions throughout the country.

Boss Rea said this initiative was part of the administrative efforts of the Tinubu Bola President to encourage inclusive development and realize his vision about the economy of $ 1 trillion.

Aliyu said: “For us, today (Friday), we show and show how two different government institutions can collaborate towards the development of this country.

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“Today, we show that we planted seeds to open a $ 25 billion economy. The cost of lack of electricity and related development initiatives in this country cost a country of $ 25 billion per year.

“Improvement between electricity, financial inclusion, and digital economy cannot be too emphasized.

“We have seen it repeatedly in this study that wherever there is no electricity, there is no financial inclusion, and there is no digital value that has been made in the community.

“Nigeria has the highest number of people without electricity, which extension means that the country has the highest number of people who are financially excluded, and they do not reap the benefits of the digital economy.”