Connect with us

Business

Renewable Energy To Contribute 30% Of Electricity Supply In Nigeria By 2030, Says Minister

Published

on

Dr Ogbonnaya Onu, Minister of Science and Technology, says Nigeria plans to generate 30 per cent of its electricity supply through renewable energy by 2030, in line with the National Energy Policy.

Onu said this at the opening of the National Stakeholders Consultative Forum tagged: “Scaling-Up Interconnected Mini-Grids Development in Nigeria: Current Status, Challenges and prospects” on Tuesday, in Abuja.

He said that since the inception of the administration in 2015, the national grid electric power generation capacity had increased at an average annual rate of about 390 Megawatts per year (MWs/yr).

Onu said that since the National Energy Policy (NEP) placed emphasis on integrating renewable energy into the nation’s energy supply mix, there was the need to ensure that electricity supply was reliable and affordable.

The minister said that renewable energy has the potential of meeting the nation’s energy needs in a sustainable manner as well as create jobs and improved livelihoods across the country, especially in rural areas.

“This is commendable but inadequate to meet the needs of both our growing population and also sustain our desired level of economic development.

“There is no doubt that renewable energy has the potential to help meet the nation’s energy needs in a sustainable manner. It has the potential to create jobs and improve livelihoods in Nigeria, especially in rural areas.

“Already, increasing demand for rural water supply, lighting, health services and micro enterprises are already driving the development of solar Photo-Voltaic (PVs) in the country.

“This trend certainly needs de-risking in order to stimulate private sector participation. This is important since the National Energy Policy emphasizes integrating renewable energy into the nation’s energy supply mix.

“The Energy and Energy Efficiency Policy has projected that renewable electricity is to contribute about 30 per cent of the total electricity supply in the nation by 2030,” he said.

Onu assured that there would be no rest until this was achieved, adding that the ministry would continue to work hard to contribute towards solving this important national problem.

Prof. Bala Jidere, Director General, Energy Commission of Nigeria (ECN), said that the forum was re-designed to focus on the development of interconnected mini-grids, which has lesser challenges in the country.

Jidere said that it was also to establish current status and challenges of interconnected renewable energy-related mini-grid development in Nigeria as well as synergise among key players in the public and private sectors, among others.

He called on stakeholders to discuss freely on the issues and challenges in order to move forward with regards to renewable energy-related electric power interconnected mini-grid development in the country.

The News Agency of Nigeria (NAN) reports that the event was organised by the National Steering Committee of the United Nations Development Programme (UNDP) and Global Environment Facility (GEF) project.

The forum was attended by major actors in the renewable energy-based electric power sector like policymakers, mini-grid developers and practitioners, regulators, as well as financiers and development partners.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Access Bank Announces N50b Interest-free Loan For Businesses

Published

on

By

Access Bank has announced N50 billion in support of Nigerians through interest-free loans and grants to support communities, the youths as well as micro, small and medium-sized businesses.
The bank posted this on its official LinkedIn page.
It said the move was to support businesses following the crippling COVID-19 lockdown as well as the looting and arson that trailed the #ENDSARS protests.
According to the bank; “Now more than ever, we remain committed to our purpose of impacting lives positively.
” In light of the recent occurrences, we will be supporting Nigerian businesses with N50billion interest-free loans and grants. Watch this space for more information.”
The support by Access Bank is expected to help business owners and entreprenuers alleviate and stimulate economic activities, as well as produce many positive multiplier effects on the economy.
“As a way of supporting SMEs and the working class of the country following the recent damage of properties and livelihoods experienced across the nation, @myaccessbank has rolled out interest free loans of up to N50bn.
“The fund is expected to serve as a kickstart to these affected communities, people and businesses. #AccessCares #All4One,” the bank added.

Continue Reading

Business

PenCom Makes Data Recapture Exercise Condition To Process RSA Transfer Request

Published

on

By

 

The National Pension Commission said the completion of the Data Recapture Exercise (DRE) is a prerequisite for processing any Retirement Savings Account (RSA) transfer request by RSA holders who registered before 1st of July 2019.
“The National Pension Commission (the Commission) introduced the Data Recapture Exercise (DRE) in August 2019 in order to obtain complete, accurate and current data of all RSA holders (both active and retired), the commission stated.
The statement added that “Accordingly, Pension Fund Administrators (PFAs) were directed by the Commission to obtain the relevant information required for the DRE from RSA holders and the process is on going. One of the information required for the exercise is the National Identity Number (NIN).
“The Commission is desirous to ensure that all RSA holders are able to exercise their rights of transferring their RSAs trom one PFA to another, in anticipation of the formal launch of the RSA Transfer System during the last quarter of 2020.
“The Commission therefore wishes to notify all RSA holders that the completion of the DRE is a prerequisite for processing any RSA transfer request by RSA holders who registered before 1 July 2019.”
PenCom explained to fast track the DRE, it approved a proposal of the Pension Operators’ Association of Nigeria (PenOp) for an industry Shared Service Initiative (SSI).
“Consequently, PenOp has engaged agents to conduct the DRE on behalf of all PFAs. This arrangement will enhance efficiency in carrying out the exercise as it would allow an agent to recapture all RSA holders in the same organization on behalf of all PFAs. In partnership with the National Identity Management Commission (NIMC), the selected agents will have the ability to carry out NIN registrations seamlessly.
“The Commission hereby appeals to all active RSA holders and retirees to cooperate with the agents that would be visiting their organisations to carry out the DRE. Meanwhile, the Commission remains committed to providing necessary support to the pension industry to ensure the success of the DRE,” it noted.

Continue Reading

Business

Senate Confirms Dahir-Umar DG PenCom, Four Board Members

Published

on

By

 

The Senate confirmed the appointment of Mrs. Aisha Dahir-Umar as the substantive Director General of the National Pension Commission (PenCom) on Tuesday.

President Muhammadu Buhari had penultimate week, sent the name of Dahir -Umar to the Senate, seeking the lawmakers ’ confirmation for her to be the substantive DG and others , to the board of the agency.

The lawmakers also confirmed Dr Oyindasola Oluremi Oni, from North Central as the Chairman of the commission.
Also confirmed were Clement Akintola (South -West); Ayim Nyerere ( South – East) and Charles Emukowhale (South – South), as commissioners of the PenCom board.
However, the Senate refused to confirm the appointment of Hannatu Musa (North -West) because she was unable to present her discharge certificate from the National Youths Service Corps.
Until her confirmation, Dahir-Umar , from the North -East geopolitical zone , held the position in acting capacity .

Continue Reading