Why FG should pursue strategic investment in Alternative energy for power sector

Stakeholders in the energy sector have again reiterated the need for the Federal Government to pursue strategic investment opportunities in alternative sources of energy to solve it power needs even as forward looking countries explore energy option away from oil and gas.

They observed that Nigeria continues to grapple with the challenge of high-energy loss due to the physical deterioration of the transmission and distribution facilities, an inadequate metering system and an increase in the incidence of power theft through illegal connections.

Analysts insist that energy is the mainstay of Nigeria’s economic growth and development because serves as an input into improvement across other sectors of the economy.

Smart Amaefula, an energy expert opine that Nigeria should not be lagging behind in towing this viable path that other visionary and proactive nations are towing to save their countries from impending energy cataclysm.

To him, “Long-term investments in renewable energies like solar and wind have the potential to contribute significantly to the electricity deficiency”.

“The theoretical framework of the energy policy outlined by the Nigerian government seems promising, but there is a discontinuity, however, between implementation and theory”.

Analysts in the energy sector caution that Nigeria’s over 70 percent dependence on gas supply by power plants which is subject to vandalism has now made it expedient for government to look at harnessing other sources of energy.

Report indicates that currently Nigeria depends on an estimate of 1.1 billion standard cubic feet of gas per day from Escravos Lagos Pipeline System which serve as a back bone of power supply.

“Nigeria needs to look at harnessing other sources of power; we need diversify our energy base because 70 percent concentration of gas as a major energy base is too much as it renders us vulnerable whenever there is an attack on gas trunk lines says Dolapo Oni Head, Energy Research, Ecobank Development Company (EDC) Nigeria Limited.

KELECHI EWUZIE