Nigeria Poised to Industrialize Through Renewable Energy, Asserts Rep. Onuigbo

Former Member of the House of Representatives and sponsor of Nigeria’s Climate Change Act, Rep. Sam Onuigbo, has declared that renewable energy is the key to Nigeria’s full industrialization.

During his participation in the 14th International Renewable Energy Agency (IRENA) Assembly, the IRENA Legislators Forum, and other related events in Abu Dhabi, UAE, Onuigbo highlighted Nigeria’s vast energy market, which includes approximately 90 million underserved individuals.

He commended the government’s efforts under President Bola Ahmed Tinubu’s Renewed Hope agenda to foster a conducive environment for renewable energy investments.

Onuigbo cited the constitutional amendment transferring electricity from the Exclusive to the Concurrent List and the Electricity Act 2023, which allows for off-grid and mini-grid power generation and distribution, as transformative steps.

He also referenced the Climate Change Act’s focus on renewable research and development, the Clean Cooking Policy aiming for universal access by 2030, and the US$750 million World Bank loan under the Distributed Access through Renewable Energy Scale-up (DARES) project, which supports solar hybrid mini-grids in unserved and underserved regions.

He reiterated Nigeria’s readiness for renewable energy investments and cautioned international investors against overlooking this burgeoning market, as some did during Nigeria’s telecommunications boom.

The week of April 16-20 in Abu Dhabi was a hub of activity, with numerous international gatherings dedicated to renewable energy investment and growth, setting the stage for COP28’s goal to triple renewable energy capacity by 2030, fostering sustainable development.