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‘Residents, businesses spend N5.3t on fossil fuel yearly’

By Gbenga Salau
19 June 2022   |   3:59 am
Lagos State government has said residents and businesses in the state spent about N5.3 trillion yearly on fossil fuel as a result of low supply of electricity from the national grid.

Lagos State government has said residents and businesses in the state spent about N5.3 trillion yearly on fossil fuel as a result of low supply of electricity from the national grid. 

The Commissioner for Environment and Water Resources, Mr. Tunji Bello, said the average daily cost of generating alternative electricity by residents and businesses through diesel or petrol-powered generators is estimated at N14.4 billion daily.

Bello, while speaking at the First Lagos State Climate Change Business Meeting with members of the Organised Private Sector, said the statistics was from the Greenhouse Gas Emissions Inventory conducted by the ministry to ascertain the impact of emissions on the environment in the state. 

He lamented that reliance on fossil fuel alternative power sources was exacerbating the vulnerability of the state to the effects of climate change. 

The commissioner, represented by the Permanent Secretary, Office of Environmental Services, Mr. Gaji Omobolaji Tajudeen, further stated that the study also showed that the energy sector was the highest contributor to greenhouse emissions. 

Bello said the amount of electricity supplied to the state from the national grid was still low as the state received less than 12,000MWh daily from the national grid, representing about 6.25 per cent. 

“When we compare generator cost of N130/KWh with a grid cost of N50/KWh, the cost associated with burning fossil fuel by residents and businesses in the state for energy generation daily is estimated at a staggering sum of N14.4 b daily and N5.3trn yearly.  This value currently spent on non-renewable energy sources can be channelled into renewable sources with potential savings made,” he stated. 

Bello enjoined the private sector to collaborate with the state government by mobilising support and resources for the actualisation of the Climate Action Plan, launched by the state in 2021 with the aim of achieving a sustainable low-carbon and climate-resilient socio-economic development. 

The Director, Environmental Planning, Mr. Bankole Michael, said the business meeting, a prelude to the Annual Environment Summit coming up in July, was aimed at galvanising private sector collaboration to tackle the challenges of climate change for the common good of all. 

He noted that a collective action on environmental sustainability was of utmost importance in order to safeguard healthy living, preserve the ecosystem for economic prosperity and engender socio-economic development.

In her contribution, the Head of Sustainability, Dangote Cement,  Dr. Igazeuma Okoroba, applauded Lagos State government for organizing the business meeting with the private sector, describing it as a novel action that would foster wider collective action in addressing the challenges of climate change.

She expressed optimism that the fresh approach adopted by the state government would bring more effectiveness because it has the flavour of local content to the subject matter, while stating that Dangote Group operations would continue to apply itself to environmental responsibility as well as lead the advocacy for environmental sustainability. Representatives of several other corporate bodies also pledged their continued commitment to environmental sustainability.