Nigeria
Reps Investigate MDAs’ Renewable Energy Investments Since 2015
The committee on renewable energy of the House of Representatives has been tasked with looking into Ministries, Departments, and Agencies (MDAs) related to grant investment, acquisition, and receipt. The goal of the investigation is to help the renewable energy industry grow.
The committee has been investigating from 2015 to the present and will provide a report for additional legislative action in four weeks.
The adoption of a motion proposed by Hon. Jesse Okey Joe Onuakalusi with the title “Need to Investigate Investments in Renewable Energy Sector and Foreign Grants received from 2015 till Date” was preceded by these resolutions.
The House stated that every country’s economic and social progress depends heavily on electricity.
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The House acknowledged that subpar power generation and distribution present a significant obstacle to the nation’s economic growth and citizens’ quality of life.
The House acknowledged that successive governments since 2015 have made significant investments and drawn multimillion-dollar foreign grants to the Nigerian Power Industry’s renewable energy subsector in order to energise workable and sustainable alternative energy sources.
It was mentioned that the World Bank has granted a 750 million dollar facility in December 2023 to increase the use of renewable energy in Nigeria in order to improve access to electricity for over 17.5 million Nigerians through distributed renewable energy solutions.
The House also recalled that the Nigerian government, using facilities sourced from the African Development Bank (AfDB), launched the $200 million renewable energy project known as the “Nigeria Electrification Project (NEP)” in 2020 with the goal of providing off-grid energy to over 500,000 people across 105,000 households in rural communities in Nigeria.
The House also remembered that in 2023, the Rural Electrification Agency stated that, despite a decade of increased interest in renewable energy, no appreciable progress had been made.