By 2050, Nigeria will need to invest over N5.2 trillion ($4 billion) to go fully green, according to Dr. Mustapha Abdullahi, the Director-General of the Energy Commission of Nigeria (ECN).
Speaking at a news conference on the use of clean, renewable energy, and energy efficiency in Nigeria this past weekend in Abuja, Abdullahi said the commission had been consulting with some businesses about investing in the country’s renewable energy sector.
He said: “So, what we’re doing in that regard is to create plans and policy that will attract investments in renewable energy generation. And it will interest you to know that we’ve analysed the font that will move us. We are aware that for us to go green and fully green by 2050, it will require about $4bn.
“No country relies totally on its resources to build renewable energy plants; they make the environment conducive for investors to move in. As a commission, we are making policies that will attract investments in renewable energy generation.”
The Federal Capital Development Authority had given the commission 900 hectares of land, according to Abdullahi.
“We call it the Abuja Technology Village; our goal is to transform it into a tech city where investors will come and construct multiple solar and renewable energy plants,” he stated.
The director-general stated that the fight against climate change depended on encouraging energy-saving behaviors and implementing sustainable energy sources.