• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, June 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Stakeholders sector seek more investment in renewable energy

Energy

The Matters Press by The Matters Press
March 13, 2022
Reading Time: 2 mins read
0
Nigeria emerges Africa biggest energy sector

Some stakeholders in the renewable energy sector, have urged the Federal Government to invest more in renewable energy in order to boost the nation’s economy.

RELATED POSTS

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

N1.5trn recapitalisation of Agric bank will herald food security – TMV

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

The stakeholders stated this amidst lack of adequate power supply, fuel scarcity and increase in the prices of petroleum products, especially diesel and petrol.

Uka Ibe, an engineer and Chief Executive Officer, Nexgen Energy, said in Ibadan that government should show more commitment to achieving economic growth, alongside environmental sustainability.

“The way out is to invest more in renewable energy solutions to run the economy. Although I commend the federal government for including its Paris climate accord commitments in Nigeria’s 2021-2025 Economic Recovery and Growth Plan.

“Part of the plan is to invest massively in solar energy production and energy efficiency, in addition to gas flaring reduction.

“However, it appears that the desperation to achieve rapid economic growth is keeping the country hooked on fossil fuels,” he said.

Ibe noted that Nexgen Energy, as a sector player, had been working toward the goal and was ready to complement national and global efforts toward clean and sustainable energy.

“This is why the Nexgen Energy hub also houses a training facility to build capacity for the renewable energy industry and create jobs and efficiency in the system,” he said.

Dr Godwin Atser, Project Manager, International Institute of Tropical Agricultural (IITA), said investing in renewable energy solutions was cost-effective in the long run.

Atser, a renewable energy user, said that it would help businesses to cut the cost of diesel and petrol as well as enhance effectiveness in production and supply.

“The way to go is to get energy from renewable sources. I have been on renewable energy for some years now. Aside from the initial cost, those on the national grid pay more than me now for energy.

“Whereas, they hardly enjoy the electricity they are paying so much to get,” Atser said.

Earlier, the President, Renewable Energy Association of Nigeria (REAN), Dr Segun Adaju, said the Nigeria Economic Investment Plan superseded the Economic Growth and Recovery Plan and that it had a component on renewable energy.

Adaju, speaking on the sidelines of the inauguration of Nexgen Energy Hub in Ibadan, said that the federal government’s policy of financing five million Nigerians would impact 25 million people, with the understanding that there were, at least, five people in a family.

He said that under that scheme, another financing programme was brought by government called ‘Solar Power Naija’ to support the local content.

“Companies can access the funding; it is with Central Bank of Nigeria and implemented by Rural Electrification Agency.

“It is like seed money brought by government and it is bringing a lot of investors, both foreign and local, into the industry because of the plan that has been developed.

“It is also expected to create 250,000 jobs for Nigerians, as it will train them on how to be entrepreneurs, installers or engineers in this space,” he said.

Adaju said Nigerians only needed to wait for the impact of the government policies and strategically prepare to take advantage of other similar ones on renewable energy.

“We expect this to bring major change in the industry and enhance energy access for Nigerians,” he said.

Tags: Energy
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

$2.5 billion JBS investment, a big economic victory for Nigeria –  TDF
Economy/Technology

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

June 27, 2025
ActionAid, SWOFON call for urgent completion of BOA recapitalisation
Agriculture

N1.5trn recapitalisation of Agric bank will herald food security – TMV

June 26, 2025
Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
News

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

June 25, 2025
79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
Next Post
Global trade’ll grow to $30tn by 2030

NPA flags-off Ikorodu Export Processing Terminal for Export trade

CIIN president tasks Insurance directors on manpower development

NAICOM begins annual ranking of insurance companies

Recommended Stories

Nigeria, Equatorial Guinea in talks to boost gas production

CNG conversion price depends on engine capacity – Portland Gas

November 23, 2023
Nigeria regains top crude oil production spot in Africa

Petroleum law provides huge business opportunities – NNPC

January 17, 2022
Orji Kalu remains in prison until…

Orji Kalu remains in prison until…

December 23, 2019

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group
  • N1.5trn recapitalisation of Agric bank will herald food security – TMV
  • Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us