Nigeria must create a favorable business environment and attract the right mix of domestic and international investments to boost its renewable energy sector, experts have urged President Bola Tinubu.
The experts spoke during a legal and policy workshop workshop organised by Natural Justice, the Renewable Energy Association of Nigeria (REANO), and Just Energy Transition Africa (JETA).
Country Manager of Natural Justice Nigeria, Micheal Karikpo, emphasised the need for strong policies that support local manufacturing of renewable energy components for Nigeria and the broader West African region.
Karikpo noted that with the right regulatory frameworks, functional institutions, and stable policies, Nigeria could naturally mobilize investments for renewable energy.
He described the country as being at an “energy crossroads,” pointing out that decades of energy crises have stifled businesses.
However, he highlighted recent policy reforms that, if well-implemented, could transform Nigeria’s energy security, drive economic growth, and expand access to electricity.
He also addressed the global shift in renewable energy commitments, mentioning that while Organisation of Petroleum Exporting Countries (OPEC) has encouraged African nations to tap into their oil reserves, Nigeria must explore alternative economic pathways that generate comparable revenue without the environmental damage associated with fossil fuels.
Karikpo further urged civil society organisations to engage more actively with the government.
“There is a real possibility for positive collaboration between communities, civil society, and policymakers. My biggest takeaway from this meeting is that the government is open to dialogue, and civil society must seize the opportunity to engage on issues of sustainable energy,” he said.
Lagos State Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, highlighted Lagos’ investments in renewable energy across sectors, including street lighting, tertiary institutions, and hospitals.
He added that the state is actively supporting grid-connected renewable infrastructure to enhance grid stability and lower electricity costs.
