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Home News

Minister calls for investment in renewable energy

by NatureNews
November 24, 2020
in News
Reading Time: 2 mins read
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Minister calls for investment in renewable energy
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By Abdulrahman Abdullahi

Minister of Science and Technology, Dr Ogbonnaya Onu, on Monday described as lucrative enewable energy as alternative source of electricity and thereby called on investors to focus attention on the energy sector.

The Minister, who was represented by Director-General of ECN, Prof. Elijah Bala made the the call at the 38th National Solar Energy Forum (NASEF), organised by Solar Energy Society of Nigeria, Usmanu Danfodio University Sokoto (UDUS) and Energy Commission of Nigeria in Sokoto.
Onu commended organisers for the theme: “Solar Energy post COVID-19 Economy”, describing it as apt and timely.
He explained the damages caused by COVID-19 pandemic on the economies with no exception to Nigeria, which he said was 90 per cent dependent on crude oil export coupled with low demand.
“It is a common knowledge that our economy has again gone into recession due to low demand in oil and consequent low price,” Onu said.
He stressed that the country needed more timely progress, adding that the right investment should be channeled to Science and Technology innovations.
Onu said President Muhammadu Buhari administration through the ministry had placed emphasis on science, technology and innovation as instruments of sustainable development.
According to him, the Economic Sustainability Plan 2020 has been composed to mitigate the effects of COVID-19 on Nigerian economy and had fully recognised the place of solar energy.
“The solar energy component of the plan was intended to support 250,000 jobs and impact up to 25 million beneficiaries through installation of 5million Solar Home Systems and mini-grids.
“Nigeria is endowed with abundant solar energy resources with the potential average daily solar intensity of about 500W/m2 at six hours per day.
“The potential is there to support about 460GW of generation capacity and about 30 times the current annual grid electricity generation in the country,” he said.
Speaking also, Gov. Atiku Bagudu of Kebbi State said it was time Nigeria explored its abundant solar energy to generate electricity.
Bagudu called on relevant stakeholders especially chemical engineers to look into maximum tapping of solar alternative energy at the local and state levels.
He said if energy researchers would not rise up to succeed, Nigeria might remain a purchaser of energy from foreign countries.
In his remarks, President of Solar Energy Society of Nigeria, Prof. Joseph Dioha, said if Nigeria’s renewable energy were harnessed it could revamp the economy and create about 250,000 jobs.
He called on executive and the legislature to make energy law to give standard that should be implemented.

Tags: Investment

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