Reps Summon Stakeholders To $2bn Renewable Energy Investments Probe

The House of Representatives Committee on Renewable Energy has invited stakeholders to an investigative public hearing on the $2 billion renewable energy grants and investments meant for developing the country’s renewable energy sector, which could not make a proportional impact on the energy security challenges.

The public hearing, scheduled for Tuesday and Wednesday, follows the House’s earlier mandate to the Committee to investigate Ministries, Departments, and Agencies (MDAs) involved in investment, procurement, and grant receipts for developing the renewable energy sector.

A statement issued by the committee chairman, Hon Victor Afam Victor, in Abuja on Sunday said the investigation will cover the period between 2015 and 2024.

Ogene said the House was miffed that despite the government attracting over $2 billion in renewable energy investments in the past decade, as the Rural Electrification Agency reported in 2023, the sector had remained the same.

“The House of Representatives was alarmed that the dysfunctional electricity generation and supply system persists, contrary to the objectives behind government investments and grants aimed at developing the renewable energy sector, hence the resolution to probe these investments to determine the integrity of the procurement and execution processes.”

He said the investigation is not a witch-hunt but a way to discourage opaqueness and promote transparency and objectivity in handling government or public resources.

The lawmaker thanked the European Union and other donor agencies for their valuable submissions, insights and cooperation in sharing information with the committee.

The resolutions of the House were sequel to the adoption of a motion titled “Need to Investigate Investments in Renewable Energy Sector and Foreign Grants received from 2015 till date,” sponsored by the member representing Oshodi-Isolo II Federal Constituency of Lagos State, Hon. Okey-Joe Onuakalusi in June.

In a lead debate, the lawmaker said the parliament knew that poor electricity generation, transmission, and distribution constituted a massive threat to the nation’s quest for industrial and technological development.

According to the House, successive governments have made substantial investments and attracted multimillion-dollar foreign grants to the renewable energy subsector of Nigeria’s power industry since 2015 to create a viable and sustainable alternative energy supply.

The lawmakers noted that in December 2023, the World Bank approved a $750 million facility to boost renewable energy in Nigeria. The goal is to improve access to electricity for over 17.5 million Nigerians through distributed renewable energy solutions.

They also noted that in 2020, the federal government launched a $200 million renewable energy project, tagged ‘Nigeria Electrification Project (NEP),’ funded by the African Development Bank (AfDB)—the project aimed at providing off-grid energy to over 500,000 people across 105,000 households in rural communities.

The invited agencies and stakeholders for the investigative hearing include Rural Electrification Agency, Nigeria National Petroleum Company Limited, Nigerian Content Development and Monitoring Board, Nigeria Sovereign Investment Authority (NSIA), National Agency for Science and Engineering Infrastructure (NASENI), NASENI Solar Energy Ltd, Ministry of Petroleum Resources, Country Representative European Union, Union Bank Plc (Compliance Department), Ministry of Science, Technology and Innovation, Federal Ministry of Power, Energy Commission of Nigeria and Federal Ministry of Finance.

Others are Niger Delta Power Holding Company, Federal Ministry of Marine and Blue Economy, Federal Ministry of Environment and Ecological Management, Federal Ministry of Petroleum (Gas Resources), Niger Delta Development Commission, United States Agency for International Development, Federal Ministry of Budget and Economic Planning, Federal Ministry of Agriculture and Food Security, Accountant General of the Federation, Renewable Energy and Energy Efficiency Associations (Alliance) REEEA-A and Other Concerned Stakeholders.