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Stakeholders successful the renewable vigor assemblage person called for stronger section solutions to span the vigor spread successful Nigeria amid Africa’s minimal stock of planetary renewable vigor investment.
The stakeholders who participated successful the just-concluded Nigerian Renewable Energy Innovation Forum (NREIF) 2025 highlighted the urgent request for Nigeria and Africa to boost home concern successful renewable vigor to thrust industrialisation and occupation creation.
Speaking during a sheet session, the forum’s sheet moderator, Rumundaka Wonodi, revealed that successful 2024, the planetary renewable vigor assemblage attracted $2.1 trillion successful investment, but Africa secured lone $40 billion—just 2 per cent of the total. He besides noted that renewable vigor deployment successful Africa has been slow, with conscionable 6GW added since past year.
Wonodi urged participants to absorption connected unlocking Nigeria’s concern imaginable successful renewables and encouraged coordinated enactment among authorities ministries and agencies. “Our forum is charting the people and prioritising actions for the government,” helium said, stressing the request for strategical collaboration.
The main method advisor to the Minister of Power, Adebayo Owoloniyi, echoed the telephone for greater section contented development. He warned operators successful the renewable vigor assemblage against over-reliance connected importation, saying it undermines Nigeria’s industrialisation efforts and limits occupation creation.
According to him, energy entree indispensable beryllium linked to the improvement of section manufacture to guarantee sustainable growth.
Owoloniyi explained that the ministry’s Nigeria First argumentation focused connected expanding section information successful vigor projects and advised that authorities subsidies beryllium channelled into initiatives that beforehand concern advancement and payment citizens’ incomes.
The main enforcement serviceman and managing manager of Infrastructure Corporation of Nigeria (InfraCorp), Dr Lazarus Angbazo, highlighted fiscal challenges facing Nigerian investors, peculiarly the deficiency of entree to section currency funding.
He called overseas currency-dependent financing unsustainable and emphasised InfraCorp’s purpose to physique marketplace enactment for long-term, sustainable investments crossed infrastructure sectors, including energy.
The forum’s insights underscore the request for Nigeria to unlock section resources and fortify policies to heighten renewable vigor investment, helping Africa adjacent its widening vigor gap.
Recall that the managing manager of REA, Abba Aliyu, had connected Tuesday called for domesticating the technologies, industries, and capabilities required to physique a resilient renewable vigor hub.
said that crossed the world, the vigor modulation is accelerating, driven by advances successful star technology, artillery storage, and integer vigor systems, hence the request to absorption connected gathering section capacity.
Aliyu, speaking astatine the Nigerian Renewable Energy Innovation Forum (NREIF) 2025, noted that adjacent though the African continent holds astir 60 per cent of the world’s star resources, it presently attracts little than 3 per cent of planetary renewable vigor investment.
“The situation earlier america is clear: we indispensable person this immense comparative vantage into competitory spot — by gathering industries, nurturing innovation, and driving the benignant of section worth instauration that secures our spot successful the cleanable vigor economy. For Nigeria, this infinitesimal is particularly urgent.
“The taxable for this year, ‘The Nigeria First Policy’, could not person travel astatine a amended time. It captures our corporate aspiration to domesticate the technologies, industries, and capabilities that volition powerfulness our vigor future.
“Nigeria has deployed renewable vigor systems successful thousands of communities, institutions, and concern clusters for years. But to unafraid our semipermanent sustainability and economical competitiveness, we indispensable present spell further — to guarantee that what we deploy is progressively designed, assembled, and manufactured successful Nigeria.
“At the Rural Electrification Agency, we spot this displacement arsenic some a necessity and an opportunity,” helium said.
He noted that with an progressive task portfolio and pipeline exceeding $3 billion, spanning programs specified arsenic Rural Electrification Fund (REF), Distributed Access done Renewable Energy Scale-up (DARES), Nigerian Electrification Project (NEP) and the National Public Sector Solarisation Initiative (NPSSI), REA’s work present extends beyond electrification.
The Agency’s task for him is to guarantee that this pipeline generates the highest imaginable home worth by catalysing section industries, supporting innovators, and unlocking greenish jobs crossed the worth chain.
“That is precisely wherefore the NREIF was established — to bring unneurotic the enti...
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