• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, June 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Investing In Renewable Energy Amidst Fuel Subsidy Removal

by Chika Izuora
2 years ago
in Business, Feature
Renewable Energy
Share on WhatsAppShare on FacebookShare on XTelegram

Investing in renewable energy is good business as rising costs of electricity in Nigeria is stressful for residents. The use of generators, especially with the recent subsidy removal that took petrol pump price from N184 to between N488 and N600 per litre, is not easy. As such, procuring solar power and other renewable energy sources is the way to go.

Advertisement

Especially, with plans to increase electricity tariff by 40 per cent from next month July. Environmentalists are advocating scaling up renewable energy investment, arguing that if 30 per cent of Nigerian households turned to solar by 2030, 5 million metric tons of carbon dioxide would be avoided, reducing emissions from households by 30 per cent.

In this regards, the president of the Renewable Energy Association of Nigeria, Segun Adaju disclosed that, “we are already getting a lot of customer inquiries and requests for solar. Many potential customers are already ordering their solar systems. Also, this is a great opportunity to cut emissions by reducing the use of fossil fuels and shifting to solar and electric vehicles.”

 

Cost of Installation

RELATED

Meet Nigerian Fintech Expert, Business Dev’t Consultant Ken Nwokike

Meet Nigerian Fintech Expert, Business Dev’t Consultant Ken Nwokike

2 hours ago
Top Home Teams with Highest Win Rates: Who To Bet On

Top Home Teams with Highest Win Rates: Who To Bet On

6 hours ago

Installing an expanded 4-kilowatt solar system, according to reports, would cost conservatively N3 million. That cost is too expensive for most families and small businesses, although, over a long time, it seems beneficial when compared to using electricity and generators. 

Moreover, my findings showed that there are several businesses now offering renewable energy, especially, solar, which is leading to a healthy competition among sellers, gradually reducing its price. 

Further investigations revealed that, with N200,000, you can subscribe to solar energy in which you can use your television, fan and three to four bulbs in your house.  Moreover, there are new entrants who now have payment plans for Nigerians to make it easier to purchase. You can pay over one to two years, depending on your choice and financial muscle and this solar lasts for three years before the battery is due for replacement.

When you compare this with the use of generators that requires fueling and regular maintenance to give the needed electricity output.

Need For Alternative Energy 

The Rural Electrification Agency(REA) is calling for adoption of solar energy, describing it as most viable solution to mitigate the impacts of recent removal of petrol subsidy and tariff adjustment.

The managing director of REA, Engineer Salihijo Ahmad, highlighted the emergence of solar energy as a sustainable and empowering solution for Nigeria.

Additionally, he emphasised that, solar energy adoption will expedite industrial activities, foster agricultural growth, and bolster small and medium enterprises.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Subsidy Removal
SendShareTweetShare
Previous Post

As New Service Chiefs March In

Next Post

Federal Govt Seeks UN Support To Recover Lake Chad Basin

Chika Izuora

Chika Izuora

You May Like

Meet Nigerian Fintech Expert, Business Dev’t Consultant Ken Nwokike
Business

Meet Nigerian Fintech Expert, Business Dev’t Consultant Ken Nwokike

2025/06/28
Top Home Teams with Highest Win Rates: Who To Bet On
Special Report

Top Home Teams with Highest Win Rates: Who To Bet On

2025/06/28
Diadem Group CEO Olaitan Gbenga Honoured In Zambia
Business

Diadem Group CEO Olaitan Gbenga Honoured In Zambia

2025/06/28
Lagos Nightclubs: From Party Spots To Crime Hotbeds
Feature

Lagos Nightclubs: From Party Spots To Crime Hotbeds

2025/06/28
Nigeria’s Wealthy Evade Taxes Amid Rising Inequality: Oxfam Report
Business

New Tax Law: Industrialists Project N3.2trn Increase In Non-oil Revenue

2025/06/28
Celebrating President Tinubu’s Remarkable Two Years In Office
Business

Tinubu Confers GCON Honour On Oramah

2025/06/28
Leadership Conference advertisement

LATEST

Kwara United Win 2025 President Federation Cup

PICTORIAL: 300 Journalists Benefit From Abuja NUJ, Nizamiye Hospital Medical Outreach

Nollywood Filmmaker, Kayode Peters, Dies In Canada

PICTORIAL: Mammoth Crowd Attends Ga’ib Funeral Prayer For Late Dantata In Kano

Meet Nigerian Fintech Expert, Business Dev’t Consultant Ken Nwokike

Fake News Threatens Military Morale — NYSDI

Akwa Ibom APC Chairman Killed In Brawl With PDP Supporters Over Largesse

Niger Killings: NEF Demands State Of Emergency In Northern Nigeria

Dantata Leaves Monumental Legacy In Philanthropy, Entrepreneurship — Buhari

Rivers Angels Beat Nasarawa Amazons To Win 2025 President Federation Cup

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.