Subsidize solar energy products,installation, operator urges FG
A leading Solar power operator and Chairman of AO Demarg Solar Nigeria Limited, Gen. Ademola Fadunsi has called on the federal government of Nigeria to subsidize the cost of solar installation and cost of equipment to enable the Nigerian household to benefit from its reliable energy supply.
Gen. Fadunsi made the call on Sunday in Abuja while speaking with journalist during the 2016 Annual Praise and Thanksgiving Service/Lunch tagged”AO Demarg Praise God.”
The event had in attendance the Chief of Army Staff Lt General Tukur Buratai and litany of other top military officers, the Director General of NAFDAC Mrs Yetunde Ooni and array of other dignitaries.
He also called on the government to reduce the duty payable on deep circle battery adding “government is still classifying solar battery like car battery where we pay 20 percent duty and 5 percent VAT.”
According to him, when you add all these charges to the cost of importation and then add your profit margin, the cost of the products becomes very high.”
Fadunsi said that the success of businesses in the year 2017 will be determined by the exchange rate.
Fadunsi said that the success of businesses in the year 2017 will be determined by the exchange rate.
However he alluded to the fact that it involves huge capital investment but zero running cost.
He pointed out that there was no limit to what one can get from the sun depending on how much one wants to invest in it.
“AO Demarg deals on all sort of solar solution like mini-grid for offices, estate and rural electrification. In fact we are in a position to generate power in the neighborhood of a megawatt.”
Gen Fadunsi described solar as the best alternative source of energy in Nigeria arguing “There is no any other source of power today that is cheaper than solar.
The retired Military General Cum business mogul said said the year 2016 has been a very difficult year for business owners due to the eractic exchange rates.
“Business this year has been tough because of the erratic exchange rates. What use to be sold at N100,000 now sold between N500.000 to N600,000. The more money we spent on importation, the higher the cost of the product and the installation. The market has been tough but to God be the glory, we have been managing.”
On the patronage for solar technology he said the market would have been wonderful because a lot of people are embracing it but because of the importance of electricity and Nigeria is blessed with enormous sunlight.
“Solar has come to stay and it’s reliable. Unless day does not break, that is when you can’t get power but that you know its not possible. Even when there is rainfall, there is still energy and at nights, the battery bank stores the energy it generated during the day time and that is what it uses in the night.
Therefore, it is a very good and reliable technology. It could also be integrated with the grid, generator and the solar together to get 24 hours of power supply,” he added.
