The Federal Government plans to invest N3 trillion between now and 2030 on energy infrastructure to facilitate investment in the sector.
The director-general of Energy Commission of Nigeria (ECN), Prof. Eli Jidere Bala stated this when he fielded questions from journalists during a courtesy visit of a delegation from the International Energy Charter Mission Team on Energy Investment Risk Assessment on the Minister of Science and Technology, Dr Ogbonnaya Onu in Abuja.
He said the government was expected to put 30 gigawatts of energy in the national grid from other sources of energy by 2030, adding 30 per cent of that was expected to be gotten from renewal energy sources like solar, wind, biomass and hydro.
Earlier, the minister said the federal government was vigorously exploring alternative sources of energy for the country.
“We are working very hard and identifying other sources of energy. The government has done very well in that area even utilizing fossil fuel but for us in the Ministry of Science and Technology we want to be ready to do research and innovation in new areas that can help us to diversify our economy and widen the sector so that when you think of the basket for energy there will be so many things inside.
“We need to generate and transmit more energy and if you look at the energy being produced in Nigeria compared to South Africa then you cannot say that but for us here in the ministry we want to broaden and diversify the sources available and we believe that solar energy because our location as we are closed to the equator and just by our location we can utilize the solar energy especially in our rural areas and in our urban areas individuals can use solar energy to light their homes to reduce the demand on the national grid which will now be used by our factories and all that so we are also doing research in wind energy,” he said.
Earlier, investment coordinator, International Energy Charter, Mr. Ishita Plant, said the aim of the investment risk assessment was to help countries do what was right, create synergy and bring out those things that would benefit the people.
The expansion co-coordinator for Africa, Dr Monica Emmanuel, stated that Nigeria had signed as observer on International Energy Charter.