Nigeria’s Vice President Yemi Osinbajo, has urged African nations to focus greater attention on development of renewable energy as a major source of electricity.
A statement released on Wednesday in Abuja said he also called for the reduction of bureaucracy and tariffs in order to make the business environment on the continent both attractive and profitable.
The vice president said Although solar power is expensive now, but with all the investments in the world and creativity coming into it, it is becoming cheaper and cheaper. So, it represents for us a major source of power and renewable energy anywhere as a win-win situation.
There is no reason at all why renewable energy should not be our focus in Africa, in West Africa, in the next few years. Osibanjo added that there was so much to do in that regard and so much to be discussed with the private sector about what to do in that particular area. He also decried the level of bureaucracy in the continent which although intended to boost investments, it rather slowed it down.
I think there is need for us to reduce the bureaucracy involved in doing business in our different environments, first of all for local investments and then for international investments of any kind.
There is a great need for freeing up the environment; there are just too many bureaucratic bottlenecks, too many stops, too many places you need to go to for approvals,” he remarked.