Business
Commission Seeks Renewable Energy Fund
The establishment of a renewable fund by all tiers of government to support the development of renewable energy and energy efficiency projects is crucial to achieving development goal, a presidential aide, Prof Abubalkar Sambo, has said.
Sambo, the Special Adviser to President Goodluck Jonathan on Energy, said this in a keynote speech he delivered at the 21st Annual General Meeting of the Nigerian Environmental Society (NES) in Benin.
Sambo, who is also the Director-General and Chief Executive Officer of the Energy Commission of Nigeria, was represented by Prof. Lawrence Ezemonye, the director, National Centre for Energy at the University of Benin.
He said the energy policy framework to drive the renewable energy market in Nigeria for sustainable development was already in place.
According to Sambo, environmental sustainability exists when human activities (socio-economic) only uses nature’s resources at the rate at which they can be replenished naturally.
He noted Nigeria had renewable energy resources in abundance, which should be harnessed to provide adequate energy supply required for sustainable development.
He stressed the need to deploy renewable energy technologies in the fight against environmental problems at the local and global levels.
According to him, what is of utmost importance is the need to pass the national energy policy and the national energy master plan into law.
Meanwhile, the World Bank had offered a multi-billion-dollar support to the country to drive its energy and climate change development efforts.
President Goodluck Jonathan disclosed this at the conference, where he was represented by the Minister of Environment, Mrs Hadiza Mailafia.
Jonathan said that the establishment of the Special climate change and renewable energy units was to ensure efficient supervision of pilot projects in Kaduna.
He stressed the need to promote sustainable development in the energy sector to ensure security, diversity and effectiveness in energy supply in the country.
Earlier, Prof Osayuki Oshodi , the Chairman of the occasion and Vice Chancellor of the University of Benin, advocated the formulation of a policy on renewable energy, to address the risk posed by climate change and other forms of energy-related environmental challenges.
Oshodi said that such a policy would simultaneously address the risks posed by climate change and other forms of energy-related environmental challenges.
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