- In an effort to promote indigenous production, the federal government has announced its plan to stop importing solar panels
- According to the Minister of Science and Technology, this will accelerate Nigeria’s transition to renewable energy
- Nnaji projected that as domestic solar panel production increased, more Nigerian homes and institutions will transition to off-grid power
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
To encourage domestic manufacturing and propel Nigeria’s renewable energy transition, the federal government has declared plans to halt the importation of solar panels.
Source: Getty Images
At the recent introduction of the NEV T6 electric buses in Abuja, Uche Nnaji, the Minister of Science and Technology, revealed this in an interview.
According to him, the action is in line with Presidential Executive Order No. 5, which aims to support regional content in technology, science, and engineering.
He said that Nigeria is already investing heavily in renewable energy infrastructure and that the country can meet its own solar energy needs locally, with the National Agency for Science and Engineering Infrastructure (NASENI) being a major player in the production of solar panels.
Additionally, Nnaji predicted that more Nigerian houses and institutions would switch to off-grid power with the growth of domestic solar panel production, Daily Sun reported.
He said:
“We have lithium in abundance here in Nigeria, so Mr. President is already taking action. We are adding value to our raw materials. The lithium we have here will be processed and used as batteries for these vehicles.”
Reacting to a question as to how the country intends to tackle its power challenges to encourage adoption of electric vehicles, the minister said,
“Let me correct you. We have power. It depends on the source of power we are talking about. Today, if you look at our budgets, we have what is called mini-grids all over the place. In less than three or four months, you will start seeing our hospitals and institutions being powered by solar. Again, we are saving the environment. We are putting in place non-carbon emission infrastructure. So, we are creating power everywhere.
“It is not about using diesel, it is not about using PMS, it is not about generating the kinds of power that will pollute the environment. With NASENI here, you know that we have panels. It has a factory that has started producing solar panels and other private individuals are also producing solar panels as we speak. So, all we need to do is, even through science and technology, through our Presidential Executive Order No. 5, we will stop all these importations of solar panels.
“We will support our local industries to grow and very soon, most houses will go off-grid. Personally, I have been off-grid for over three years and it is working.”
Meanwhile, the Ministry of Finance Incorporated, the Nigerian Consumer Credit Corporation (CREDICORP), and the Presidential Initiative on Compressed Natural Gas Ltd has launched the Credit Access for Light and Mobility Fund.
Source: UGC
This took place in Abuja during the signing of a Memorandum of Understanding between the three agencies.
The goal of this program is to offer reasonably priced credit for solar energy adoption and car conversions to compressed natural gas.
Michael Oluwagbemi, PI-CNG’s Chief Executive Officer and Program Coordinator, emphasised the fund’s inclusion by saying that it provides chances for people who wish to convert their automobiles.
Access Bank launches solar energy funding plan
Legit.ng reported that solar energy finance strategy has been introduced by Access Bank Plc to support sustainable energy supply in Nigeria’s healthcare industry.
The “Solar for Health” project aims to help them move away from their costly reliance on fossil fuels, by offering hospitals, labs, and other healthcare facilities reasonably priced financing options for the installation of energy-efficient solar solutions.
Gregory Jobome, executive director and chief risk officer of Access Bank, made this statement during the “Solar for Health Breakfast launch” event in Lagos.
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Source: Legit.ng
