Stakeholders in the Nigeria Electricity sector have commenced a move to increase the adoption of renewable energy solutions through effective consumer finance, investment support, and stakeholder collaboration.
Speaking during the 2023 renewable energy conference organised by the Renewable Energy Association of Nigeria (REAN) in collaboration with Heinrich Boll Foundation (HBF) Sunday in Abuja, the Chairman, House of Representatives Committee on Renewable Energy, Afam Victor Ogene, said with the fast dwindling global fossil fuel reserve, renewable energy is the future of electricity generation, adding that Nigeria must step up and be more intentional in investing in the renewable energy sector and technologies.
Ogene said access to electricity has remained a big challenge in Nigeria, thus, the need for alternative energy sources.
He said with diverse renewable energy resources available in Nigeria, the right funding would enable technology to be developed as renewable energy has the potential to bridge the energy gap in Nigeria.
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He, therefore, advocated for a purpose-driven and intentional investment in renewable energy, by both government and private sector players, to actualise a meaningful impact in renewable energy in the nation.
The president of REAN, Ayo Ademilua, pointed out that the adoption of renewable energy has become imperative with the increasing price of fossil fuels which are highly consumed by businesses.
He added that renewable energy is no longer an alternative energy in the country when considering the prices of petrol.
The Managing Director of the Rural Electrification Agency (REA), Ahmad Salihijo Ahmad, noted that the nation’s off-grid, renewable energy space has grown at a fast pace in the last 5 years.
