By Prince Okafor

THE Nigerian Economic Summit Group and other stakeholders in the power sector have called for increased renewable energy investment in the nation’s power generation mix.

They said right energy mix and the implementation of the renewable energy policy will boost the country’s power sector.

Speaking at a stakeholders’ roundtable conference on Nigeria’s energy mix strategy and the future of renewable energy organised by the NESG in Lagos, a Research Co-ordinator for Energy and Climate Policy, Oeko Institut, Dr. Felix Matthes, while sharing the German experience, said Germany had been able to significantly increase the use of renewable energy sources such as solar power.

The Chairman of the Board, NESG, Mr. Kyari Bukar, noted that gas-fired plants currently account for 64 per cent of Nigeria’s electricity supply, adding that huge investments that were presently unavailable would be needed in gas infrastructure to meet current and future projected demands, assuming existing generation mix remained constant.

He said, “The Energy Commission of Nigeria, ECN, predicts that energy demand will hit 250,000 megawatts by 2030. The current generated capacity of about 4,000MW for a population of approximately 170 million inhabitants clearly demonstrates that Nigeria is facing an energy crisis.

“It is against this backdrop that conversations have started regarding alternative energy sources for the nation and we acknowledge efforts by the Minister of Power, Works and Housing, Mr. Babatunde Fashola, to promptly address acute energy shortage as well as commend his dedication to public engagement in this regard.”

He said in tackling the nation’s energy constraint, there was a need to agree on appropriate total energy mix for the next few years as well as the targets to attain the agreed mix.

“If and when we achieve a consensus on the right energy mix comes the role that policy will play in getting us to this destination, as well as the strategic plans to implement the policy and a framework to monitor implementation.