Minister of Power, Prof. Chinedu Nebo has urged the in-coming administration to remain receptive to investors with interest in other sources of electricity generation in the country.
Nebo stated that concentration of future investments on coal, solar, waste could guarantee that efforts by the outgoing government of President Goodluck Jonathan at increasing in-country electricity generation and supply is sustained.
Describing it as quick wins for the incoming administration to latch on to, Nebo said that investments in these alternative electricity sources could minimise abysmal sabotage on the power systems, which he noted was crippling government’s efforts at improving power supply in Nigeria.
A statement from the ministry of power in Abuja, quoted Nebo to have made this call at the signing of a Memorandum of Understanding (MoU) between NOVARTUS Gas Limited and the government for the generation of power through renewable energy sources across Nigeria.
He stated that renewable energy sources will remain critical to Nigeria’s survival, considering that there are minimal threat of vandalism to them as against what currently obtains in the gas-pipelines.
Stating the government’s pain with the constant bursting of pipelines by miscreants everywhere in the creeks of the Niger Delta, Nebo said: “Yet it (renewable sources) could give the required leap to the supply chain of electricity.”
He explained that vandalism has forced power supply to hover around 3,600 megawatts (MW) despite efforts the present administration to improve on its generation capacity.
“Our vulnerability to sabotage with regards to pipeline vandalism is so high,” Nebo said, adding that a policy for Nigeria on renewable energy and energy efficiency will soon be approved by the Federal Executive Council (FEC) for use in the country.
The document he said will provide the needed structure and framework for investors to take advantage of renewable electricity sources in the country.
It would also contain incentives to be enjoyed by would-be investors desirous of producing power using renewable energy sources.
He further assured that when it is operational, more opportunities would be opened up in small and medium sized hydros, biomass, wind and solar power to help Nigeria out of her decrepit power supply regime.
While requesting the consortium to visit Vietnam to understudy her small hydro technology which he said is been operated efficiently, Nebo said: “Using small hydros, Vietnam provides energy in her remote areas for small clusters of industries and farming communities.”
The statement also had the Chairman of the Group, Obi Nwasike stating earlier that the persistent efforts of the present administration to change the near collapsed state of Nigeria’s power sector has ensured that investors can now look towards the country as a profitable destination.
Nwasike expressed his delight with Nigeria’s vast renewable energy resources which can be harnessed for stable, efficient and cleaner energy.
He also stated that his consortium will harness the abundant Municipal Solid Waste (MSW) that are in major Nigerian cities following increasing population and rising industrialisation.