The Minister of Power, Adebayo Adelabu, has said it is necessary for Nigeria to develop its own manufacturing capabilities for renewable energy equipment to fasten the adoption of renewable energy across the country, News About Nigeria reports.
Speaking at the Accelerated Renewable Energy and Distributed Energy Summit organised by the Nigerian Electricity Regulatory Commission (NERC) in Abuja, Adelabu said relying on foreign imports for solar panels and batteries is unsustainable.
“We cannot continue to import solar panels forever. We expect this to be cheaper than grid supply, but with foreign exchange rates constantly rising, the cost advantage is lost when we rely on imported solar panels and batteries,” Adelabu stated.
“Local manufacturing, using local currency, will provide the cost advantages we need. Establishing a local industry to support the renewable energy sector value chain is essential for sustainability in this sector.”
Adelabu said the country’s goal is to generate 9,000 gigawatts of electricity from renewable energy sources by 2030.
He called for consistent policies to attract and reassure investors in the renewable energy sector.
“Investors need reassurance due to past experiences of policy inconsistencies and lack of legislative support that have led to losses. Sustainable policy statements and supporting legislation are crucial to show that the government is serious about achieving its renewable energy targets,” he said.
“Our efforts, including this summit, should create the necessary platforms and frameworks for improved energy access, enhanced energy security, and inclusive economic growth.”
NERC Chairman Usman Garba also addressed the summit, acknowledging the challenges of large-scale solar projects in Nigeria.
He said the commission is focused on embedded generation using renewables and distributed generation.
“Looking ahead, we are working collaboratively with stakeholders to support the development of a comprehensive national electricity policy and strategic implementation plan under the leadership of the minister. This plan will leverage Nigeria’s abundant renewable resources while promoting energy efficiency and sustainability,” Garba added.
