By Henry Obetta

The United Nations Development Programme (UNDP) revealed on Tuesday that Nigeria loses N2 billion annually due to poor power supply.

Mrs. Elsie Ataffuah, the UNDP Resident Representative for Nigeria, made this statement at the First National Legislative Conference and Expo on Renewable Energy, which was organized by the UNDP in collaboration with the House of Representatives Committee on Renewable Energy and held in Lagos.

Ataffuah highlighted the challenges within the energy sector, noting that poor policy implementation was a significant factor contributing to Nigeria’s epileptic power supply.

Experts at the event called for a transition to renewable energy as a means to improve power and energy supply. They emphasized the need for the government to implement policies that would encourage private sector investment in renewable energy, warning that the high cost of investment could deter potential investors.

Dr. Nkiruka Madueke, the Director-General of the National Council on Climate Change, expressed concern that 94 million Nigerians still have no access to electricity, describing the situation as worrisome. She stressed that the country’s challenges go beyond power generation and distribution, with the root cause being poor implementation of policies by the relevant ministries, agencies, and departments.

Victor Ogene, the Chairman of the House of Representatives Committee on Renewable Energy, explained that the conference aimed to bring together stakeholders to explore ways of encouraging Nigerians to adopt renewable energy. He emphasized that transitioning to renewables would reduce reliance on fossil fuels, enhance the country’s energy capacity, and create job opportunities for the populace.