President Muhammadu Buhari on Tuesday directed the Ministry of Finance to release funds for the local production of solar cells by the National Agency for Science, Engineering Infrastructure (NASENI).
The President gave the approval while presiding over a virtual meeting of governing board of NASENI at the State House in Abuja, the nation’s capital.
President Buhari who is equally the chairman of the governing board directed the Ministry of Finance, Budget, and National Planning as well as the Federal Inland Revenue Service (FIRS) to commence remittances of funds approved by law to the agency.
He expressed a recommitment to fast-tracking the nation’s industrial development and advance technological growth in the country.
Additionally, President Buhari directed both ministries to conclude negotiations for an 85 percent funding source for the establishment of solar cell (local) production in the country.
After the virtual meeting which had few others in attendance closed door, the executive vice-chairman of NASENI, Professor Mohammed Haruna, explained that the idea of approving locally produced solar cells is predicated upon lowering the price of solar power purchase.
Professor Haruna said the President approved a number of memos, including a marching order to speedily begin the process of assembling made-in-Nigeria helicopters.