The minister made the statement while declaring open the Nigerian Renewable Energy Private Equity Seminar in Abuja to sensitise investors, fund managers, policy makers and other stakeholders on the need to support the development of renewable energy.
He said: “There are 264 hydro dams which have not been fully utilized. So, in this first quarter, government did a study and is fixing the turbines and other components in 12 of them to increase their generation capacity.”
Nebo disclosed that government would soon complete work on the 3050 mw Mambilla hydro dam, adding that it would soon be ready for commissioning by President Goodluck Jonathan.
Nebo, who was represented by the Permanent Secretary in the Federal Ministry of Power, Ambassador Godknows Igali, said the seminar/training was organised to sensitise and mobilise stakeholders to initiate an equity fund through private sector participation to promote sustainable energy.
Citing the United Nations Report on access to power, he said: “There is still a wide gap in power supply. Sadly for us here in Nigeria, we still have about 30 million people that do not have access to power at all.”
“This is the reason the Federal Government is focusing on Renewable Energy (RE), particularly off-grid solar and small hydros, that would not need to depend on the national grid.”
The Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, who was represented by Hajiya Lare Shuaibu said there was the need to supplement mainstream power generation through the harnessing of renewable energy sources.
She disclosed that the Nigerian Bulk Electricity Trading Company Plc (NBET) has received proposals and enquiries on developing the vast renewable energy in Nigeria.
“Giving the national resources of sunlight, wind, biomass among others, we need to start thinking of how they can be harnessed for the power sector,” she added.
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