Inadequate monitoring and evaluation stand in the way of Nigeria’s commitment to the United Nations (UN) Climate Change Conference (COP26) in 2021 to achieve net-zero emissions by 2060. Co-founder/Chief Executive Officer (CEO) of Revocube Energies, Olanrewaju Ogunkunle, has said.
While he applauded the Federal Government’s efforts and investment in renewable energies, he noted that inadequate monitoring and evaluation still threatens the transition. Ogunkunle said this, yesterday, at the Renewable Energy Summit 1.0 in Lagos with the theme, ‘Empowering the Future of Business with Renewable Energy’.
Speaking with The Guardian at the summit, Ogunkunle said: “One of the major costs of running businesses in Nigeria is energy, and we believe that if the cost of energy can be tackled effectively, businesses will have proper structure for their finance.
On the cost of setting up renewable sources of power, he said, “Anybody that can afford a generator in Nigeria can afford a solar system. People do not get enough information to make the right choice; so, there is a solar system for every size. For renewable energy, it is a new day, a new power. The sun is what is needed.”
Meanwhile, the Director, National Centre for Energy Efficiency and Conservation (NCEEC), Olawale Ajibola, has said many entrepreneurs do not understand the essence and importance of investing in renewable energy; hence, they avoid it.
According to Ajibola, NCEEC has been sensitising the public on the need to invest in renewable energy.
He stated, “Many people do not know there are grants for practitioners in this sector. One can get a grant from the Central Bank of Nigeria (CBN), especially to help original equipment manufacturers and service providers like Revocube Energies.”
Sales Manager, Gospower Electric Technology, Young Yang, said: “The sun has been a symbol of energy and life since ancient times. In renewable energy, solar is known as the most potential green energy because of its clean, safe and endless advantages.
