Dr. Segun Adaju, Chief Executive Officer, CEO, and President Renewable Energy Association of Nigeria, REAN, has said that Nigeria spends $16 million on fuel annually to power 14 million generators.

He made this known at the (NES#27) Nigerian Economic Summit Group, on Tuesday in Abuja, saying: “We need to look at where we are in terms of our competences and our comparative advantage for us to achieve the transition.

“With 200m cubic gas reserves, Nigeria must leverage on the potential for gas to play a big role in energy sector.

“We must display efficiency on the huge resources we have to power Nigeria.

“Gas for cooking in rural communities will be more efficient and cheaper than using solar power.

“Nigeria is the highest generator user in the world, with 10 to 14 million generators, the highest in the world.

“It spends about $16 million to fuel them every year. So, for me, displacing generators is a way to go.”

On the issue of electrification, Adaju said studies show that half of Nigeria is not connected on national grid.

“That means it is infrastructure that we need to build by increasing the generation capacity at least to 30mw.

“I am happy that government of Nigeria is towing this line of investing in 8000-10,000 viable sites that have been identified.

“We must make sure that different resources we have to electrify Nigeria in every part of the country is put in use, as about 8000-10,000 sites ready to go in micro and mini grids.

Speaking as well, Managing Director, Oolu Solae, Ms Sodeke Akporiaye said: “We don’t have to look at our transition challenge from demographics and competitive perspective but from the possible combination to electrify Nigeria to solve the problem.

“Absence of regulation in the gas sector and policy direction is a challenge.

“Focus must be on incentives to boost local manufacturing. Each geo-political region has got something to contribute.

“60% of electricity in Nigeria is consumed by residents while manufacturers are self-dependent.

“It is important we have a clear regulatory framework for this transition to work.

“The gap has to be closed focus and must also be paid to affordability. Again, implementation is also a challenge.

“We must focus on affordability and we cannot do that without incentives that will bring cost down like tariffs, taxes and utilising all available resources to bring electrification to Nigeria.

“The informal sector need to be captured in the energy mix for us to be able to produce more.

“To complement the biggest investors, the IOCs who have invested so much. Building the ecosystem is healthy enough to take the heavy lifting to next level.

“Collaboration is needed in the ecosystem for the lifting of Nigeria to happen.”

Also speaking , Managing Director/CEO, Nigeria LNG limited, Dr. Philip Msheibila said: “Renewable is here to stay.

“We at LNG is trying to see how we can contribute our quota to power Nigeria via hydro, geo-termal , solar and wind. These are pilots.

“We work hand in hand with government. We partner with Rural Electrification Agency.

“Efficient pricing and creating a level playing fields, create tax holidays and many more for there to be transition.

“A huge gas flaring was going on until NLNG came into existence and since then has contributed immensely by reducing gas flaring by 60%.

“That has contributed to tackling climate change and is one of the biggest tax payers for infrastructure development.

“It has created huge employment, over 18,000 youths employed. Even when the project ended they take the experiences to where they went.

LPG is very critical

“Nearly half of LPG consumption in Nigeria comes from NLG, but virtually putting all LPG they produce to market.

“Apart from that, LPG is also appealing for transportation and can be used in the industry.

“Everything we need to electrify Nigeria is here, all we need to do is to go ahead to execute the policies

“However, we must build peoples capacity. We also need the funding. How to access it is an issue that requires an answer.”

Also speaking, Managing Director of Shell Nigeria Limited, Mr. Ed Ubong, said: “Irrespective electricity challenges that exist, gas is abundant.

“We must find a way to industrialise the gas sector in Niger Delta. We must see what we can do to reactivate the industries, build a viable and fordable electricity sector.

“With over 40 million SMEs in Nigeria registered, if leverage can generate more electricity. Power investment clusters need to be made available in Nigeria like was done in South Africa.”

The Chairman of the Presidential Economic Advisory Council, EAC, Doyin Salami, has called for a better understanding and appreciation of the role of the private sector in building a strong economy.

Speaking at the first plenary session of the 27th Nigerian Economic Summit (NES#27) in Abuja, on Monday, Salami said the way to secure Nigeria’s future lies in new thinking and clarity of purpose and also taking advantage of the resources in the private sector.

Salami said the government cannot do everything without partnering with the private sector, hence the need for a strong collaboration.

“We need to have a clear appreciation and understanding of what can the government do, and what can the private sectors do because the government cannot do everything.

“Nigeria also in my view must understand her role in Africa and keep to that role,” he said.

Salami also challenged the authorities to have a clear view of how to provide education to the teeming population and provide a sense of belonging to all Nigerians.

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