The Albino Foundation Public Notice
The Federal government stated that commendable efforts are ongoing to address the long standing challenges bedeviling the power sector.
Minister of Power, Chief Adebayo Adelabu state this at the end of the African Natural Resources and Energy Investment Summit, AFNIS 2023 in Abuja.
Chief Adelabu who was represented by the Director Transmission, Nosike Emmanuel stated that the initiatives to expand access to electricity, upgrade infrastructure, promote renewable energy, and encourage private investment are steps in the right direction.
According to him, President Bola Ahmed Tinubu, has recognized the importance of addressing the power crisis and has made it a top priority noting that the Electricity Act, 2023 signed into law will consolidates the laws relating to the Nigerian Electricity Supply Industry as it provides a legal and institutional framework for the power sector in Nigeria in the areas of electricity generation, transmission, system operation, distribution, supply, trading, consumer protection.
“The Act further provides a holistic, integrated resource plan that compels the utilization of renewable and non-renewable energy sources for power supply in the country and attracts investments into the sector.
“Electricity is a fundamental requirement for economic growth and development, and Nigeria, as the most populous country in Africa, has been grappling with power supply challenges for many years. However there is a reason to be optimistic about the progress being made in this crucial sector” he stressed.
On her part, the minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite who acknowledged Nigeria’s vast renewable energy resources emphasized that the abundance of sunlight, winds, and hydroelectric potential in the country, present a significant opportunity for harnessing these resources for sustainable development.
Represented by the Director industrial development in the ministry, Mr. Opaluwa John, explained that with President Bola Ahmed Tinubu’s “Renewed Hope” agenda, there is need to create a greener and more sustainable future for Nigeria following the nation’s abundance of renewable energy resources, such as sunlight, wind, and water, as well as underscored the environmental and economic benefits associated with renewable energy adoption.
Dr. Ozoka-Anite noted that Nigeria is uniquely positioned to become a manufacturing hub for renewable energy technologies due to its skilled labor force, available resources, and entrepreneurial spirit.
She stressed that the government is committed to supporting investments in renewable energy manufacturing adding that various initiatives, such as tax incentives, regulatory support, and financing options have been introduced to attract investors.
Dr Ozoka-Anite noted that collaboration is a key element in achieving success in becoming a manufacturing hub for renewable energy technologies.
“Partnerships are required not only between the government and industry but also with international organizations and companies, Collaborative efforts can facilitate technology transfer, knowledge sharing, and the adoption of global best practices” she added.
In her closing remarks, the Permanent Secretary, Dr. Mary Ogbe said African continent is largely blessed with abundant Natural Resources and Green Energies which are not adequately utilized adding that these Natural resources if harnessed and put to proper use will shape the way the African continent generate and distribute various forms energies for industrial and household uses.
“In recent times, the leaders of Africa have shown commitment and willingness to support and to give this sector the backing it needs. We have to take advantage of this political will” Dr. Ogbe stressed.
