Expert Seeks 5-year Tax Relief For Renewable Energy Investors

Regional director for Africa, Robotics and Autonomous Systems at the Society of Petroleum Engineers International, Ambassador Chinedu Ogwus, has proposed a five-year tax relief for renewable energy investors.

He said transformative energy reforms and humanitarian development are the pillars for nation-building.

The expert spoke yesterday in Calabar at the 2025 Niger Delta Oil, Gas Investment and Security Summit, hosted by Cross River State governor, Prince Bassey Otu and the deputy governor, Peter Agbe Odey.

The summit brought together stakeholders from the government and private sector, along with development experts and high-profile personalities to shape Nigeria’s energy and policy landscape.

Among the dignitaries in attendance were Senator Chief Sunday Benson Agadaga, Senator Ned Munir Nwoko (chairman, Senate Committee on Oil & Gas Host Communities), Senator Eteng Jonah Williams (chairman, Senate Committee on Crude Oil Theft), Rt. Hon. Obongemgem Ekparikpe (chairman, Senate Committee on Petroleum (Upstream), and Hon. Balarabe Abbas Lawal, minister of state for Petroleum and Minister of Environment.

Ogwus, in a presentation titled “The Global Energy Transition and Nigeria’s Energy Security,” emphasised Nigeria’s potential to lead the continent in renewable energy by investing in solar panels and battery manufacturing.

He said the government’s support for domestic industries is critical to accelerating the energy transition and ensuring long-term industrial growth.

Drawing inspiration from the Nigerian Liquefied Natural Gas (NLNG) model, he explained that the incentive scheme, introduced at the inception of the NLNG project, was instrumental in attracting investors and fast-tracking development in the sector.

He further argued that adopting a similar framework for renewables could catalyse investment, stimulate industrial growth, and position Nigeria as a continental leader in the energy transition.

He also highlighted the strategic role of Nigeria’s abundant gas resources as transitional fuels and recommended that revenues generated from gas production be reinvested into renewable energy projects.

Oguws urged the federal government to prioritise the national-scale development of solid minerals, noting that these resources could generate alternative revenue streams to finance Nigeria’s path to net-zero emissions by 2060.