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NESG Renewable Energy Roundtable: Stakeholders call for effective policy framework, smart financing

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Thursday, June 22, 2017 7.00pm/Proshare WebTV 

Stakeholders in the Nigerian electricity sector, have called for a robust policy framework and smart financing measures for renewable energy in the country. 

This was the outcome of the Nigerian Economic Summit Group (NESG) CEOs Business Roundtable on “Renewable Energy”, in partnership with the Heinrich Boll Foundation. 

Considering the huge energy demands in the country, with a teeming population of over 180ml people, the quest for energy mix has become imperative, leading to the 30:30:30 agenda. 

The agenda seeks to galvanize efforts in achieving a 30% contribution from renewables to the power equation of 30gw by 2030. This is to tackle the issue of about 100 million Nigerians, that are currently not connected to the electricity grid. 

Giving the opening remarks the CEO of the NESG Mr. Laoye Jaiyeola said the  roundtable was focused on establishing the renewable business platform in Nigeria.  

Mr Jaiyeola noted that renewables are one of the strongest options for delivering power in Nigeria, and informed stakeholders that the roundtable will encourage and adopt “Made-In-Nigeria” innovative solutions for renewable energy. 

Jaiyeola speaking further stressed that the roundtable will intensify the advocacy in the narrative for renewable energy in Nigeria, while it will also discuss investment options in renewable technologies. 

Keynote speaker and Research Coordinator, Energy and Climate Policy, Oeko Institute Dr Felix Matthes in his presentation, asserted that at the global trend in energy mix and transition, going renewable is the more robust way, but was much more capital intensive. 

Dr Matthes said the key issue for adopting renewables in the case of Nigeria, was identifying the business model that is suitable and adaptable. He said for Nigeria a “Non-technical” infrastructure will be required to ensure a sustainable renewable energy generation.                 

The German technocrat harped on the need for a robust framework for renewable energy in Nigeria, that has an effective roll-out plan that can drive the entire value chain. 

Considering the issues of cost in renewable energy, Dr Matthes said in achieving the set agenda, Nigeria must develop a smart financing structure that attracts investments in renewables. 

On the potentials of renewables, Dr Matthes said with a viable public-private partnership, renewable energy will create new businesses and jobs in the country, provide a competitive electricity model and also achieve decentralized electricity in the country. 

According to him “In Germany, my country renewables contribute 35% to the power generation”.  Renewables are the energy mix of “Wind, Solar and Hydro”. 

Participants at the meeting who made their contributions at the interactive session, emphasized the need for a sustainable Nigerian policy/legal framework and financing model that can make renewable energy a viable segment, of the energy sector.

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