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Renewables can deliver 60% of Nigeria’s Energy demand by 2050– Report

By Sulaimon Salau
15 January 2023   |   2:52 am
The International Renewable Energy Agency (IRENA), in a new report, has revealed that investment in renewables can provide nearly 60 per cent of Nigeria’s energy demand by 2050.

International Renewable Energy Agency

The International Renewable Energy Agency (IRENA), in a new report, has revealed that investment in renewables can provide nearly 60 per cent of Nigeria’s energy demand by 2050.

   
The report said such an investment is cost-effective, as it will deliver economic growth and jobs while achieving global climate and sustainable development objectives.
 
It added that renewable energy sources will enable up to 40 per cent savings in natural gas and 65 per cent in oil needs at the same time.
   
The report, titled: Renewable Energy Roadmap Nigeria, noted that: “With a growing population and a range of socio-economic challenges, Nigeria requires sustainable energy sources to meet the growing needs for all the sectors of its economy and achieve universal access to modern energy services.”
  
It said: “The study encompasses all key sectors of the Nigerian energy system to provide additional context for energy policy discussions on how increased ambition in terms of renewable energy beyond current government policy and targets can be realised.
   
“Renewable energy can help Nigeria not only meet its energy needs but also power sustainable economic growth and create jobs while achieving global climate and sustainable development objectives.
   
“The actions needed to realise this future are multi-faceted and include policy, regulatory and financial related actions to place Nigeria on the path to a transformative future,” it stated.
   
Director-General, IRENA, Francesco La Camera, said: “By using its abundant, untapped renewables, Nigeria can provide sustainable energy for all its citizens in a cost-effective manner.”
   
He added that “Nigeria has a unique opportunity to develop a sustainable energy system based on renewables that support socio-economic recovery and development while addressing climate challenges and accomplishing energy security.”
 
Nigeria’s Minister of Science, Technology and Innovation, Dr Olorunimbe Mamora, who wrote the foreword to the roadmap, said: “The highly distributed institutional structure of the energy sector in Nigeria means that coordination of policies will be essential to unlocking integrated energy transition planning and ensuring its success.
 
“A cross-cutting agency or body tasked with doing so would be helpful in building consensus and developing a coherent plan, which in turn would allow for the scaling up of renewable energy to meet the needs across the Nigerian energy sector.”
   
He argued that sustainable energy is the driver of modern development, adding, “Availability of adequate, reliable, sustainable and cost-effective energy is important for the socio-economic development of any nation.”
 
He further noted that “Nigeria is endowed with abundant renewable energy resources namely; solar, wind, hydro and biomass that can be harnessed to scale up its energy supply and achieve universal energy access, energy security and the reduction of greenhouse gas emissions for climate change mitigation.
 
“Energy consumption in the country is expected to continue to increase due to a rising population and improvements in the socio-economic life of the people.”
 
IRENA insisted that policies for the accelerated deployment of renewables are needed to unlock the report’s benefits, noting that policy coordination is essential to unlocking successful integrated energy transition planning in Nigeria.

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