Stakeholders in the renewable energy space and liquefied natural gas (LNG) subsectors are exploring ways to address the supply gaps in the power sector.
They said there is a need for the government to make the sector attractive for investment through policies and by embracing new technologies. They noted that Nigeria lags behind Niger and Cameroon in renewable energy.
However, they were optimistic that Nigeria will catch up with other countries when the right policies are were implemented. To them, depending on the grid supply when there are opportunities in the off-grid segment doesn’t encourage closure of the supply gaps.
Speaking with reporters in Lagos ahead of the Future Energy Nigeria conference and expo scheduled for November 12 and 13 in Lagos, some of the stakeholders noted that there was need to advance conversations in the sector.
The Head of Sales, East and West Africa, Clarion Energy-Spintelligent, Ade Yesufu, wants value chain overhauled for competitiveness.
On the theme of the conference, which is “Advancing partnerships and solutions for a sustainable energy economy,” Yesufu said the event is expected to focus on the value chain and seek ways to provide solutions to the power challenges as well as empower youths for improved capacity development.
Marketing Manager, Jubaili Bros Engineering, George Kai, explained that the initial cost of adopting renewable solution as well as access to funding are critical issues that are limiting the growth of renewables.
Considering the cost of the project at the initial stage, Kai urged off-takers to explore financing options as people are sceptical about their capital expenditure.
On how to bridge the energy gap, Pradipta K. Mitra, Market Research Specialist Greenville Liquefied Natural Gas (LNG), observed that the claim that electricity can’t be supplied nationwide would be erased when the government promotes more investment to harness LNG in Nigeria, adding that if such projects can be replicated, the power problem would gradually be solved.
Mitra explained that LNG offers huge cost savings as against other fossil fuel products, adding that the firm is already supplying LNG to many industrial customers and noted that 200 tankers have been deployed with 100 more tankers underway.
President Women in Renewable Energy Association/Former President of the Council on Renewable Energy, Mrs. Anita Okuribido, said the biggest consumers of electricity (ministries, departments and agencies) in the country are not willing to pay, adding that there is a need for smart energy delivery system in the energy value chain.
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