Adedapo Adesanya
By Adedapo Adesanya
The Minister of Power, Mr Adebayo Adelabu, has called for collective efforts to shape the energy sector in Nigeria, noting that no meaningful economic growth can be achieved without it.
Mr Adelabu said this at the Nigeria Energy 2023 leadership summit recently held in Lagos, with the theme Unlocking new value with reforms, investments, and technology which saw in attendance industry leaders.
The Minister said, “Energy is the lifeblood of any modern economy of which Nigeria is no exception. No meaningful economic growth or industrial development can be achieved without energy.
“We can be talking of potential from now till tomorrow, potentials of our human resources in Nigeria, the massive endowment with natural resources. If there is no energy or power, all these amount to nothing, and it can never be converted into reality.”
He emphasised the challenges the sector was facing and highlighted the need to ensure affordable energy as he called for more investors.
“The challenges we face ensuring access to reliable and affordable energy for all are quite complex. It ranges from issues of energy, security, and sustainability, to addressing climate change.
“Consequently, it will require collective efforts to summon these challenges to realize our dreams of socio-economic development in our country.
“This industry is for short-term players, when you come in, you don’t expect to start making profits in one, two, or three years. It is a medium to long-term investment; investors must understand that it is a huge industry,” Mr Adelabu noted.
Also speaking at the summit, the Managing Director of the Nigerian Rural Electrification Agency (REA), Mr Ahmad Salihijo, explained the off-grid energy system concept, which he said would help increase the country’s worrying access to electricity.
“Off-grid energy systems are small standalone energy systems that can power a single building using standalone solar home systems using grids without any connection to the main grid.
“Recently, we have also explored a lot of mini-grids to power commercial clusters and agricultural hubs, and these are powered through solar, wind, biomass, and other renewable energy sources. We have been able to capture a few research and innovative ways of exploring biomass in conjunction with solar to see how we can provide energy within rural communities.
“Over the years the IEA has prepared and continued to implement strategic, innovative, and impactful Off-grid energy programs in a systematic way to improve the data,” he said.
