Dr. Kola Adesina, the Group Managing Director of Sahara Group and board Chairman of Ikeja Electric says that Nigeria needs to embrace other stable sources of energy to meet the anticipated growth of its demands.
Adesina who is also the new Chairman of AXA Mansard Insurance plc stated this at the 8th Nigeria Energy Forum, (NEF), Opening Plenary on Energy Transition for Growth in Lagos on Thursday.
“Aligning Nigeria’s industrialization, with sustainable energy development requires modifying legislation and encouraging creative project financing options,” he said.
Adesina said Sahara Group was planning an industrial park at the Egbin power station to provide a stable and consistent electricity supply to manufacturers, thereby boosting industrialisation with the capacity to meet contemporary demands.
The Federal Government also reiterated its commitment to attain net zero carbon emission by 2060.
The Permanent Secretary, Federal Ministry of Power, Temitope Fashedemi said the realisation of this goal depended on the implementation of Nigeria’s Energy Transition Plan, ETP, which was launched in 2022.
Fashedemi said the country would continue to strive towards increasing energy development through legislations, policies and critical projects.
“It is public knowledge that President Bola Tinubu has signed the Electricity Act, 2023. The implementation of the Act would greatly accelerate the sustainable exploitation of our abundant resources in meeting our electric power demands for industrialisation and economic growth,” he said.
In his keynote address, United States Consulate General in Lagos, Will Stevens, said Nigeria remained one of the key participants in the US Department of Energy’s global initiative.
“On the energy transition to a net zero world, there are more opportunities for partnership and expanded cooperation. Nigeria holds 33 per cent of the African continent’s total gas reserves, with the potential to ensure sustained supply of natural gas across sub-Saharan Africa.
”Nigeria could provide natural gas for the entire continent if the necessary financing infrastructure and partnerships are in place.”
In his remarks, the Group Managing Director, Johnvents, John Alamu, said the company was installing a 3,000-kilowatt gas generator fleet to power industrial facilities as an immediate step towards this goal.
”As we diversify our offerings, it is crucial to mention the significant energy and financial needs in running an integrated food manufacturing, industrial agro-processing and agri-food commodities trading operations.
“We urge our partners in the financial and energy sectors to innovate and create tailored solutions for food sector manufacturers and processors,” he
Comments