The Minister of Power, Adebayo Adelabu, has stated that Nigeria can’t continue to rely on foreign countries to get equipment necessary for the acceleration of renewable energy in the country.....KINDLY READ THE FULL STORY HERE▶
The minister who spoke during the Accelerated Renewable Energy and Distributed Energy Summit organised by the Nigerian Electricity Regulatory Commission (NERC) yesterday in Abuja, stated that the continued importation will not lead to the adoption of renewable energy.
“We cannot continue to import solar panels forever. But we expect this to be cheaper than grid supply. The foreign exchange keeps going up all the time and we are importing solar panels and batteries. So where is the cost advantage? But when these things are locally manufactured and we use local currency to buy them we will have cost advantages. So, we need to establish a local industry to support this renewable energy sector value chain. That way we can have sustainability in this sector,” he said.
While stating that the government is targeting 9,000 gigawatts of electricity from renewable energy by 2030, he called for policies that will encourage investors to invest in the renewable sector.
“The first is the reassurance from governments. Investors need reassurance because they have experienced a lot of policy inconsistencies, lack of legislative support in the past that have actually made them lose their investments. So, reassurance through supporting legislation and sustainable policy statements that will actually assure investors and sectoral participants that the government is very serious in achieving its renewable energy targets.
“Our hope is that our efforts, including those in this summit, should provide the platform and frameworks necessary towards the achievement of improved energy access, enhanced energy security, and inclusive economic growth for the country,” he said.
On his part, the Chairman of NERC, Usman Garba, said the role of large-scale solar has been challenging for our country.
He said the commission is considering embedded generation using renewables and distributed generation.
“Looking ahead, we are working collaboratively with stakeholders to support the development of a comprehensive national electricity policy and strategic implementation plan under the leadership of the minister. This plan will leverage Nigeria’s abundant renewable resources while promoting energy efficiency and sustainability,” Garba added.
