In a significant move to address Nigeria’s energy challenges, Shell Impact Investment Company, All On, has released a pivotal report advocating for comprehensive policy reforms to enhance the off-grid energy sector.
The report underscores the immense potential of off-grid energy solutions to alleviate Nigeria’s electricity crisis by offering decentralised and sustainable alternatives. Despite the evident benefits of mini-grids, their progress is hindered by policy and regulatory constraints, as revealed by the All On funded research that surveyed 21 mini-grids across various Nigerian communities.
The 2024 All Off-grid Energy Report, conducted by Nextier Power Nigeria Limited, a multi-competency advisory firm, provides a thorough analysis of the off-grid sector. It highlights market uncertainty and the lack of market intelligence as major obstacles to the growth of renewable energy in Nigeria. All On remains committed to supporting the sustainable energy sector in the country.
Presenting the report in Abuja, program manager at Nextier, Folakemi Aletan, emphasised the urgent need for policy reforms to expand off-grid energy solutions.
“The national grid, plagued by frequent collapses, fails to reach remote and underserved areas, forcing Nigerians to spend approximately $14 billion annually on small petrol or diesel generators, which are expensive and environmentally harmful,” she stated.
Aletan called for a comprehensive policy review and harmonisation, incentives for renewable energy adoption, and the elimination of investment barriers.
She advocated for increased federal government involvement in supporting off-grid projects and the implementation of cross-sectoral policies to make power more affordable and meet the government’s climate change commitments.
CEO of All On, Caroline Eboumbou reaffirmed the company’s dedication to sustainable energy initiatives. She highlighted the report as a crucial resource for stakeholders committed to transforming Nigeria’s energy sector.
“We are thrilled to unveil the All On off-grid energy sector report today. This pivotal study conducted by Nextier gives an analysis of the critical challenges and vast opportunities within Nigeria’s renewable energy landscape.
“Our commitment to driving sustainable energy solutions is stronger than ever, and this report serves as a vital resource for stakeholders, who like us, are dedicated to transforming Nigeria’s energy sector. Together, we can harness the power of innovation and collaboration to ensure a brighter, greener future for all,” she said.
Communications Associate at All On, Onyebuchi Odianjo commended Nextier for their comprehensive research and emphasised the need for increased contributions from international development agencies, donors, and investors to accelerate the growth of the off-grid market.
“This report is not just a document; it is a call to action. By embracing these recommendations, we can stimulate interest and enable investments that will accelerate the deployment of off-grid and clean energy solutions across Nigeria,” Odianjo concluded.
This report by All On is expected to serve as a catalyst for policy reforms and investment, driving the expansion of off-grid energy solutions and contributing to Nigeria’s sustainability.
SOURCE: LEADERSHIP
