FG urged to boost renewable energy investment
The Founder of ADVAD Limited, a power and electrical infrastructure company, Adebowale Adediji has urged the Federal Government to prioritise investment in renewable energy to address Nigeria’s power challenges.
According to the World Bank, out of every 10 Nigerians, more than four persons do not have access to power; hence, the need for policies that will stabilise electricity generation and attract investment into renewable energy.
PUNCH Online reports that Nigeria’s ongoing power challenges resulted in an estimated annual economic loss of $26bn, according to the latest Africa Trade Barometer report by the Standard Bank.
In a statement signed by Adediji and made available to PUNCH Online on Monday, he underscored the importance of renewables and solar to the energy, noting that “government should prioritise massive investment and synergy with private investors.’
