The National Assembly (NASS), says it is set to formulate appropriate legislations and legal frameworks that will support the development of renewable energy.
Rep. Afam Ogene, the Chairman, House of Representatives Committee on Renewable Energy said this on Tuesday in Abuja at a Renewable Energy Conference 2023.
The two-day hybrid conference with the theme, ‘Transforming Energy Finance: Bridging Gaps and Building Opportunities’ is organised by Renewable Energy Association of Nigeria (REAN) with the support of Heinrich Boll Stiftung.
Ogene said that the current government had resolved to seek sustainable solutions, to create an enabling environment for renewable energy to thrive.
“On our own part as government, especially as lawmakers, we will do our best, with the warm resolve by the government to seek sustainable solutions, to create the enabling environment for this to thrive.
“We shall accordingly, be painstaking and purposeful in formulating appropriate legislations and legal frameworks that would support this development drive in renewable energy,” he said..
According to him, with the diverse renewable energy resources available in the country and the enabling technology being developed and funded, renewable energy has the potential to bridge the energy gap in Nigeria.
“I have also persistently advocated a purpose driven intentional investment in renewable energy by both government and private sector players in order to actualise a meaningful impact in renewable energy in the nation.
“In as much as we desire to have cleaner energy sources, we cannot wish away the huge financial implications of this transition to sustainable and renewable energy.
“In my conversations with stakeholders in the renewable energy sector, the recurrent challenge has always been funding without which not much would be achieved.
“What this simply implies is the need to have accessible financing plans and options that would be available to operators and potential investors in the sector,” he said.
According to him, with the fast dwindling global fossil fuel reserve and the increasing danger associated with it, especially as regards to its impact on the environment and climate change, renewable energy is the future.
On his part, the Managing Director, Rural Electrification Agency (REA), Mr Ahmad Salihijo, said that the nation’s off-grid renewable energy space had grown at a fast pace in the last five years.
Represented by Mr Abba Aliyu, Salihijo said that beyond keeping the lights on, sustainable energy access especially in previously unserved and underserved communities was the key to true sustainable development and inclusion.
“Through the visibility that we have at the REA, we continue to witness the impact of collaboration, innovation and technical expertise.
“As we navigate this ecosystem to deliver energy to last-mile communities, healthcare centres, schools, markets and agricultural clusters,’ ’he said.
Salihijo, however, said that with the current estimates on the number of Nigerians without access to sustainable energy, the sector needed a more push.
He said that in a sector as dynamic and critical as energy, the conversations engaged in should not be mere discussions but pivotal steps toward shaping a sustainable and inclusive energy future.
“Through engagements like this, we must optimise the opportunity to bridge the gap in the sector.
“As we convene, remember that your insights, innovations, and shared experiences have the power to influence policies, spark collaborations, and foster a sense of shared responsibility in the quest for energy justice, “ he said.
Also speaking, the President of REAN, Mr Ayo Ademilua said that the conference was organised to bring together experts to brainstorm on ways and solutions to adopt renewable energy technology in the country.
Ademilua said that the conference would also explore and identify strategies that would enable increased adoption of renewable energy solutions.
“Through effective consumer finance, investment support and stakeholders collaboration, REAN aims to explore and implement strategies that will accelerate the adoption of renewable energy among small businesses and citizens.
“With a specific emphasis on leveraging consumer finance and investment support to make these solutions more accessible and affordable,” he said.
