Manufacturers in Africa’s most populous nation have been urged to transition from fossil fuels to sustainable energy sources to cut operating costs and wastage.
The call was made during the Manufacturers Power Development Co. Ltd (MPDCL) meeting on smart energy utilisation held in Lagos recently.
Segun Ajayi-Kadir, director general of the Manufacturers Association of Nigeria (MAN), said energy accounts for 30 to 40 percent of manufacturers’ production costs depending on how power-intensive their manufacturing processes are. He stated that it is a critical issue affecting the industry.
Kadir noted that the country’s energy challenges also present opportunities for growth, innovation and leadership, urging manufacturers to transition to sustainable energy sources.
“The global trend is clear, sustainable energy is the future. Nigeria, with its abundant renewable energy resources, is well-positioned to capitalise on this shift and we can move on to explore how best we can change the narratives,” he said.
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“We are therefore committed through the Manufacturers Power Development Company to support members in transitioning from fossil fuels to sustainable energy sources,” he noted.
“This initiative will not only reduce energy costs and wastage but provide more efficient optimization of energy and corporate policy directive that will drive acquisition of modern equipment, which by design function through the use of less energy,” he added.
He stated that the transition will save manufacturers time and effort in repairs, leading to the ultimate goal of enhancing their competitiveness within and globally.
He said MAN plans to conduct energy audits and assessments, provide access to financing options, offer technical training and capacity-building programs, advocate policy support and regulatory frameworks, and drive collaborations with partners for its members transiting to sustainable energy sources.
Speaking also, Ibrahim Usman, board chairman, MPDCL said the organisation recognises the critical role energy plays in driving industrialisation and economic development.
“Our mission is to provide cost-effective, sustainable, and reliable power solutions to manufacturers, empowering them to compete within the continent and globally,” Usman said.
“Our vision is clear: to become the leading provider of smart and sustainable energy solutions to MAN members in Nigeria, to enable them to seamlessly manufacture with energy adequacy, thereby fueling the growth of the manufacturing sector and contributing to the country’s economic prosperity,” he explained.
“We reaffirm our commitment to supporting your growth through reliable and affordable power supply. We believe that together, we can unlock Nigeria’s industrial potential,” he added.
Speaking on the GEF-UNIDO Industrial Energy Efficiency (IEE) & Resource Efficient Cleaner Production (RECP) broad benefits and objectives adoption, Oluwasegun Osidipe, director of research and advocacy, MAN, said it will improve the cost of production and profitability of manufacturers.
Also, he added that its adoption will provide a competitive edge for manufacturers and improve their brand image and visibility while reducing their exposure to rising global energy prices and protecting the environment.
Osidipe noted that the Bank of Industry in collaboration with UNIDO/GEF established the IEE & RACP funding program to provide financial assistance for project assist businesses deploying its solution to optimise.
