On November 5, 2024, the Lagos State Government (LASG) expressed strong support for the Renewable Energy Association of Nigeria (REAN) and its ongoing advocacy for renewable energy solutions as a key response to Nigeria’s energy crisis.
Lagos Government’s Support for REAN’s Advocacy
Mr. Abiodun Ogunleye, Commissioner for Energy and Mineral Resources, delivered a keynote address at the 2024 Renewable Energy Conference organized by REAN. Ogunleye, represented by Mrs. Abiola Kosegbe, Permanent Secretary of the Ministry of Energy and Mineral Resources, praised REAN for its essential role in raising awareness about sustainable energy initiatives.
According to Ogunleye, REAN’s efforts are vital for fostering collaboration among stakeholders and ensuring affordable, accessible energy solutions for both businesses and households across Lagos State. He emphasized the importance of affordable energy as a fundamental right for every Nigerian, especially those in low-income urban and rural areas.
Key Focus Areas of the Renewable Energy Conference
The theme of the conference, “Unlocking Affordable Energy for All”, was an ideal platform to discuss innovative strategies to improve Nigeria’s energy landscape. Ogunleye highlighted the potential of hybrid systems, combining solar with mini-grids, to address the unique energy needs of underserved communities.
He also stressed the need for inclusive energy strategies that involve women in the energy transition process, as women are often the most impacted by energy poverty. According to Ogunleye, women can serve as transformative leaders in their communities, driving change towards affordable and sustainable energy solutions.
Innovative Funding Models for Renewable Energy
In his remarks, Mr. Ayo Ademilua, President of REAN, called for stronger efforts to ensure that affordable renewable energy solutions are available nationwide. He highlighted that the transition to renewable energy is critical for Nigeria’s sustainable development, as it is essential for economic growth, job creation, and energy security.
Ademilua also appealed to the government and financial institutions to increase funding and financial support to accelerate the adoption of renewable energy technologies across the country, especially in rural and underserved areas. He emphasized the importance of creating tailored funding models, such as concessional loans, subsidies, and Pay-As-You-Go (PAYG) options, to make renewable energy more affordable for small businesses and low-income households.
REAN’s Call for Increased Investment and Policy Support
Ademilua recommended the creation of a dedicated Renewable Energy Fund to provide low-interest loans and grants for renewable energy projects, particularly in off-grid areas. This would help bridge the infrastructure gap and accelerate the energy transition. He also called for tax incentives, import duty exemptions, and public-private partnerships to support renewable energy growth in Nigeria.
He concluded by stating that the potential for renewable energy in Nigeria is vast, but more investment and stronger policy support are needed to fully harness this potential. According to REAN, with the right investments, renewable energy can drive economic growth, create jobs, and help Nigeria achieve its climate goals.
Collaboration for a Sustainable Energy Future
As Nigeria continues to face energy challenges, REAN’s advocacy for sustainable, affordable, and accessible energy solutions has never been more urgent. Both the government and the private sector must collaborate to ensure that renewable energy becomes a cornerstone of Nigeria’s economic future.
With ongoing energy initiatives like the Lagos Electricity Bill 2024 and the Lagos Integrated Resource Plan, Ogunleye’s remarks underscore the critical role of renewable energy in shaping the state’s energy strategy and providing lasting solutions to Nigeria’s energy crisis.
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