- Adebowale Adediji, Founder of ADVAD Limited, calls for massive investment in renewables to fix Nigeria’s power sector.
- Nigeria loses $26 billion annually due to power challenges, according to the Africa Trade Barometer.
The Founder of ADVAD Limited, Adebowale Adediji, has urged the Federal Government to prioritise investment in renewable energy to solve Nigeria’s power crisis. He emphasised that solar and other renewables offer sustainable solutions to the country’s electricity problems.
Citing a World Bank report, Adediji highlighted that more than 40% of Nigerians lack access to electricity. He stressed the need for policies that stabilise power generation and attract investments into the renewable energy sector.
According to PUNCH Online, Nigeria’s power challenges lead to an estimated annual economic loss of $26 billion, as revealed in Standard Bank’s latest Africa Trade Barometer report.
In a statement released on Monday, March 31, Adediji commended the government for its efforts in the Energising Education Project, which provides electricity to Federal Universities. He also praised initiatives like the Energising Health Initiative.
While listing key projects handled by ADVAD Limited, he mentioned the 6.5MW PIPP LVI Genco Independent Power Plant in Lekki, the 8MW Lagos Blueline Rolls Royce Dynamic Rotary UPS system, and the NSIA 10MW Peak Grid Tied Solar Power Plant in Kano. He called for stronger collaboration between the government and private investors to improve Nigeria’s power sector.
“It is imperative for the government to collaborate with private investors to drive growth in the energy sector and improve infrastructure,” he said. “One such partnership enabled us to manage the specialised backup power and traction distribution for the Lagos Blue Rail, West Africa’s first electric rail.”
Adediji maintained that renewable energy is the future of Nigeria’s power sector and urged the government to take decisive action to ensure a stable electricity supply for all.