‘FG’s renewable energy 2020 projection requires right investment option to thrive’

Any plan by the federal government to achieve 10 percent of renewable energy away from large-scale hydropower by 2020 may end up just as a pipe dream unless it is backed up by strategic investment drive energy experts have warned.

Analysts observe that the growing challenge the energy sector is experiencing appears to have defiled all known workable solution despite measures put in place to improve power distribution in the country.

They noted that the successive Nigeria government has underperformed and has been wasteful over the years saying that Nigeria has installed about 37mw of small hydro power most of which are not functioning.

Victor Eromosele, an energy expert observes that sustainable energy is the way to the future. He disclosed that Renewable energy accounts for 2 percent of world energy mix but when it comes to the issue generation today according to statistics in 2015 renewable account for 6.7 percent.

Eromosele observe that Nigeria hold the lowest solar capacities in Africa questioning the basis for the country’s claim of being the giant of Africa, when manager of the economy can’t fund investment that will help the country tap the huge potential that solar energy presents us. “We are very good at setting targets in Nigeria, but how good are we in achieving them”, he query.

Smart Amaefula, a climate change expert pointed out that Nigeria should not be lagging behind in towing this alternative energy sources path that other visionary and proactive nations are towing to save their countries from impending energy cataclysm.

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

“Nigeria receives about 4909.212 kWh of energy from the sun which is equivalent to about 1.082 million tonnes of oil; this is about 4000 times the current crude oil production per day, and also put at about 13 thousand times of daily natural gas production based on energy unit”. He said.

Analysts believe that achieving the desire result in ultilisation of energy sources such as fossil fuels, hydro, solar, tidal, geothermal, and biomass to drive output in power generation depends on implementation of the theoretical framework of the energy policy. But absence of an enabling business environment in the alternative energy space is also not helping matters and can contribute to forestalling the drive to move away from over reliance of gas as the major source of power generation.

KELECHI EWUZIE