Nigeria ranked Africa’s biggest economy in energy
Energy Commission of Nigeria (ECN), yesterday, ranked Nigeria as largest economy in Africa power-wise. It said only three to four per cent of energy consumption of Nigerian manufacturing industry come from grid-connected electricity.
Acting Director-General of the commission, Joseph Sunday, made the disclosure during the ‘Lessons Learnt Workshop to disseminate project results and knowledge’ in Abuja for overview of results achieved by United Nations Environment Programme (UNEP) projects to demonstrate effectiveness of renewable energy solutions for commercial and industrial clients.
He recalled that the project was funded by German Ministry for the Environment, Nature Conservation and Nuclear Safety through the International Climate Initiative (IKI), while UNEP, in collaboration with Frankfurt School of Finance and Management, implemented the project in four pilot countries, namely: Kenya, Ghana, Nigeria and South Africa.
For Nigeria, UNEP is using ECN as coordinating office. Sunday said: “It may interest you to know that Nigeria has the largest economy in Africa, in tight competition with South Africa, which is the 30th largest economy in the world. This would not have been possible without the industrial sector, which this project is targeting. Among the main industrial sectors in Nigeria, the manufacturing sector is likely to have the greatest potential for clean captive power uptake.
“According to the World Bank Enterprise Surveys 2014 for Nigeria, ‘World Bank Group’, 48.1 per cent of the enterprises in the manufacturing sector identify electricity as a major constraint. Average losses due to electrical outages incurred by these firms were 18.3 per cent of annual (yearly) sales.”
In his address, Deputy Head of Frankfurt School, Tobias Panofen, said: “The lessons learned can be summarised as that we would like to accelerate economic development and provide clean and reliable energy solutions for commercial and industrial clients. Therefore, with the support of the international climate initiative from the German government, we have set up this facility that is supporting clients.”
Principal Industrial Officer, Industrial Development Department, Federal Ministry of Industry Trade and Investment, Ike Owali Obin, commended UNEP and ECN for promoting adoption of clean captive installations for industrial clients in Sub-Saharan Africa.