The Nigeria-British Chamber of Commerce has emphatically stated that Nigeria’s transition to renewable energy is no longer a mere option but an imperative. This resounding declaration was made during the Renewable Energy Roundtable conference held in Lagos under the theme ‘Renewable Energies: Innovation, Transition, Opportunities, and Challenges.’
Ray Relly, the President and Chairman of the NBCC, articulated the pressing need for Nigeria to embrace renewable energy sources and acknowledged that this transition has gained prominence on the global stage. In light of climate change and environmental degradation stemming from fossil fuel usage, he emphasized the urgency of aligning with the international community. This alignment involves implementing new technologies, enacting policies, and ensuring the effective execution of these policies.
Relly underscored the gravity of the situation by asserting, “The transition to renewable energy is no longer a choice but a necessity.” He challenged stakeholders to explore innovative approaches to meet the energy demands of Nigeria’s burgeoning population. The core of this transformation lies in adopting renewable energy sources to replace fossil fuels. Consequently, there’s a critical call for comprehensive energy transition planning that encompasses not just design but robust implementation. Furthermore, it’s vital to establish policies that make renewable energies affordable and sustainable while vigilantly overseeing their execution.
Relly’s statement also recognized that the transition to renewable energy is a pivotal journey that shapes the nation’s future. As climate change’s adverse effects loom, discussions about renewable energies have become commonplace. To succeed in this endeavor, a collaborative effort between various stakeholders, including the private sector, government agencies, and academia, is essential.
It’s worth noting that in 2020, the Federal Government committed to achieving zero gas emissions by 2060, reflecting its commitment to environmental sustainability. This commitment sets a clear direction for the nation’s energy landscape.
Folake Soetan, the Chief Executive Officer of Ikeja Electric, acknowledged the untapped potential of renewable energies in Nigeria. Currently, renewable energy constitutes only 3.3% of the nation’s total power generation, signifying an enormous opportunity for substantial investments in the renewable energy sector.
The Nigeria-British Chamber of Commerce, through its Renewable Energy Roundtable conference, has sounded the clarion call for Nigeria to prioritize the transition to renewable energy. The imperative is evident, given the global context of climate change and the need for sustainable energy solutions. As the nation grapples with this transition, the focus must be on innovation, sound policy-making, and the collaborative effort of all stakeholders. The commitment to a zero-emission future by the Federal Government adds to the urgency and direction of this transformative journey, while the private sector recognizes the significant investment opportunities in renewable energy. Nigeria’s energy future is undoubtedly intertwined with its commitment to renewable sources.
