‘Investment In Renewable Energy Necessary For Security’

Minister of Science, Technology and Innovation Dr. (Sen.) Olorunnimbe Adeleke Mamora has said that Nigeria through her National Energy Policy and Climate Protocols has joined the rest of world to recognise Renewable Energy as one of the most cost –effective means of ensuring Energy Security.

According to a statement issued on Thursday by the Deputy Director Press and Public Relations of the Ministry, Obed Atuora, Mamora said this while declaring open a work-shop on Capacity Building titled ‘’Accelerating Small Hydropower Investment’’ in Nigeria in Abuja recently.

According to the Minister, Nigeria is blessed with a vast amount of Renewable Energy sources including Hydropower, wind, Solar and biomass, adding that small hydropower and biomass hold greater potentials towards providing access to firm Electricity as well as addressing climate change in the Nation.

He emphasised that proper investment in renewable energy is very necessary for Energy Security in Nigeria.

The Minister further stressed that Industrialisation provides a mechanism for sustainable economic growth and development but noted that meaningful industrialization cannot be achieved without adequate Energy supply .

To this end, the Minister said that achieving sustainable industrialisation of the nation amidst the challenges of climate change requires broad stakeholders involvement, active collaboration among policy makers, academia, public financiers and organized private sector actors (OPS) to effectively enhance investment in renewables and more specifically Small, hydropower in Nigeria is a necessity to successfully attain our desired goals , the statement said.

He then commended the United Nations Industrial Development Organization (UNIDO) for facilitating a crucial platform like this for dialogue that will enhance prosperity in Nigeria through the transformation of the Energy Sector.

Also speaking the director general of Energy Commission of Nigeria(ECN) Prof.Eli Jidere Bala, said that Nigeria’s ambition for Industrialization and Economic development is reflected in its recent agenda 2050 Development plan Document ,adding that the overall objective is to take Nigeria through to upper middle income, to high-income Country by 2050.

He pointed out that this feat cannot be achieved without adequate supply of Energy in a sustainable manner and at adequate cost in the Country.

Earlier, UNIDO representative to ECOWAS and Regional Director, Nigeria Regional Office Hub, Mr. Jean Bakola who was represented by Engr. Dr. Otu Osuji, said that Energy is a critical input for sustainable Economic growth and industrial development in Nigeria.

According to Mr. Jean Bakola, in 2015 UNIDO with the support of the Federal Government launched the Scaling of Small Hydropower project in Nigerian, of which the main objective is to promote investment in hydropower Technology and strengthen local manufacturing of goods.