Nigeria will require about N5.2 trillion ($4 billion) to go fully green by 2050, the Director-General of the Energy Commission of Nigeria (ECN), Dr Mustapha Abdullahi, has said.
Abdullahi, who stated this at a press briefing on Clean, Renewable Energy, and Energy Efficiency use in Nigeria held in Abuja at the weekend, said the commission had been in consultation with some firms to invest in Nigeria’s renewable energy sector.
He said: “So, what we’re doing in that regard is to create plans and policy that will attract investments in renewable energy generation. And it will interest you to know that we’ve analysed the font that will move us. We are aware that for us to go green and fully green by 2050, it will require about $4bn.
“No country relies totally on its resources to build renewable energy plants; they make the environment conducive for investors to move in. As a commission, we are making policies that will attract investments in renewable energy generation.”
Abdullahi said the commission had been allocated 900 hectares of land by the Federal Capital Development Authority.
He said: “We call it the Abuja Technology Village; we intend to make it a Tech city where investors will come and build several solar plants and renewable energy plants.
The director-general said promoting energy efficiency practices and adopting sustainable energy sources were critical to the campaign against climate change.
He said the commission would intensify public awareness campaigns about the benefits of clean and renewable energy sources.
