Experts Push Policy Reforms To Boost Renewable Energy Investments

Stakeholders in Nigeria’s renewable energy sector have called for stronger legal and policy frameworks to boost investments and accelerate the country’s transition to clean energy.

This was the focus at the first Legal and Policy Dialogue on Renewable Energy, co-hosted by Natural Justice, Just Energy Transition Africa (JETA), and the Renewable Energy Association of Nigeria (REAN) in Abuja.

Speaking at the event, Michael Keania Karikpo, Country Manager for Natural Justice, stressed the need for collaboration among key players to build a robust coalition for Nigeria’s just energy transition.

“We hope this will be the start of a continuous process of connecting actors in the renewable energy space, building power, and designing pathways that enhance our collective vision,” he said.

Karikpo noted that Natural Justice, which began operations in Nigeria two years ago, has been working to advance legal and policy reforms that address climate-related crises.

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At the continental level, JETA has supported lawyers, civil society groups, and governments in shaping regulatory frameworks and increasing public participation in energy planning.

Nigeria, he said, is at an energy crossroads, with decades of electricity crises hindering economic growth. However, recent reforms—if properly implemented—could position the country as a renewable energy leader in West Africa.

To support this transition, Natural Justice has developed three key policy documents: A Model Electricity Law to enhance renewable energy’s role in Nigeria’s energy mix, a Model Legal and Regulatory Framework for subnational electricity markets and a Critical Review of the Electricity Act 2023 assessing its implications for the sector.

The dialogue explored key drivers, challenges, and financing options for renewable energy in Nigeria, as well as strategies to strengthen regulatory institutions and ensure community participation.

Lagos State commissioner for Energy and Mineral Resources, Abiodun Ogunleye, emphasised the need for clear legal and financial frameworks to attract investment in the power sector.

“The fundamental problem is the lack of financing for power development. Even when people are willing to pay, they struggle with unreliable supply,” he said.

He noted that while Lagos alone generates over 6,000 megawatts of electricity, distribution remains a challenge. A well-structured electricity market backed by strong regulations, he argued, would attract investments and improve service delivery.

As global energy policies shift, Karikpo highlighted the need for Nigeria to explore alternative revenue sources beyond fossil fuels.

“Increasing Nigeria’s renewable energy ambition requires an enabling policy environment that supports local manufacturing of renewable energy components, not just for Nigeria but for the entire West African subregion,” he said.

Stakeholders agreed that the dialogue was just the beginning. Future discussions will focus on legal reforms, financing clean energy, strengthening climate institutions, and responsibly extracting rare earth minerals essential for renewable technologies.