Public and private businesses have been urged to tap into the opportunities inherent in renewable energy to reduce the carbon footprint caused by fossil fuels and create sustainable wealth while preserving the environment.
With Nigeria’s abundant sunlight, wind, and hydro resources, there is a huge opportunity for the government and private sector to collaborate to harness such resources to meet its energy needs.
The national grid cannot meet Nigeria current energy demand and the reliance on fossil fuel does not present a futuristic solution for the resource-efficient manufacturing sector and other sectors.
These were major takeouts from the recent Powerelec Nigeria conference in Lagos organised by Verifair Dubai in partnership with Sungrow South Africa.
Biodun Ogunleye, commissioner for Energy and Mineral Resources, Lagos State said that accelerating energy transition in Nigeria through public-private partnership was not just timely, but essential for the country as it struggles with the large challenge of meeting her growing energy demand while addressing the essential threat of climate change.
According to him, the energy transition is not a responsibility that can be done by the government alone, adding that it requires collective action and a shared vision to achieve affordable, reliable, and clean energy.
Pointing out that the use of renewable energy will in the future see industries thrive on sustainable energy sources, Nigerians breathe cleaner air, and communities empowered. He said the energy transition should not be seen as a challenge, but as an opportunity to innovate, collaborate, and lead.
“State governments need to align their policies with that of the Federal government to create an environment for the private sector to thrive. The solution to the culture of blackouts in Nigeria is a decentralised energy system. If governments at both the federal and state authorities align their policies, it would remove bottlenecks and enable private-public partnerships to thrive,” Ogunleye explained.
He advised private investors, developers, financial organisations, and community leaders to join in this joint community journey to achieve energy sufficiency.
He believes that if the other state governments take a step forward to create an enabling policy for businesses like the Lagos State government is doing, it will encourage private organisations to invest in a renewable energy value chain that will provide job opportunities for Nigerians.
Commenting on the importance of the conference, Jeen Joshua, managing director of VeriFair Dubai, owners of the Powerelec franchise, said the purpose of the event was to gather government and private stakeholders to brainstorm on how to become the catalyst for business opportunities in the new energy space.
He also said that the conference which is in its 10th year presents a massive business opportunity for local Nigerian companies and international companies across the globe to collaborate and share insights on how to tackle the energy shortage in Nigeria.
Joshua further said that Nigeria can only reduce its carbon footprint if the government invests in building partnerships with the private sector to harness its rich alternative energy sources to attain zero power cuts, zero shortage of energy and less carbon footprint for the future of citizens.
Confirming that the renewable energy sector holds tremendous opportunities for businesses, Prinaven Naidoo, senior account manager, of Sungrow South Africa, said with over 200 million people and the Federal Government’s renewable energy master plan initiatives, Nigeria is leading West Africa’s energy transition.
According to him, Sungrow is committed to bridging a sustainable future through cutting-edge technology and unparalleled service, adding that the company is steadfast in its mission to provide clean power for all and to lead the world in clean power conversion technology.
“Expanding our footprint in Africa is a priority and Nigeria is at the heart of this mission,” Naidoo said.
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