Nigeria is stepping up its efforts to address the pressing energy challenges facing the African continent. Speaker of the House of Representatives, Tajudeen Abbas, emphasized Nigeria’s leading role in the “Mission 300” initiative, a collaborative endeavor with the World Bank and the African Development Bank aimed at providing electricity access to 300 million Africans by 2030. This ambitious undertaking underscores the continent’s commitment to leveraging renewable energy sources to drive economic development and improve the quality of life for millions. Abbas highlighted Nigeria’s strategic interventions, including policy reforms, legislative actions, and substantial financial investments, as evidence of the nation’s dedication to achieving this crucial objective. He stressed the importance of coordinated action across all sectors – legislative, executive, private, and civil society – to ensure the successful implementation of this transformative energy transition.
A cornerstone of Nigeria’s energy strategy is the promotion of renewable energy development. Abbas highlighted the House of Representatives’ passage of tax reform bills that eliminate Value Added Tax (VAT) on renewable energy components and Compressed Natural Gas (CNG) technologies. These reforms aim to incentivize private sector investment and enhance the affordability of clean energy solutions. Further demonstrating the legislative commitment, the House is working to provide legal backing for the 2015 Renewable Energy and Energy Efficiency Policy (REEEP), a framework designed to accelerate renewable energy adoption, reduce greenhouse gas emissions, and improve energy efficiency nationwide. These initiatives demonstrate a clear understanding of the interconnectedness of policy, legislation, and market dynamics in driving the energy transition.
The global shift toward renewable energy sources underscores the urgency of Nigeria’s actions. Abbas cited data showing that renewable energy accounted for over 92% of new global power generation capacity in 2024, driven primarily by solar and wind power. Globally, installed renewable energy capacity has reached over 4,448 gigawatts, a significant year-on-year increase. This global trend is further reinforced by investment figures, with a substantial portion of global energy investment directed toward renewable energy, energy efficiency, and electric mobility. These global trends underscore the economic and environmental imperative for Nigeria to align its energy strategy with the worldwide transition to cleaner sources.
Nigeria’s commitment to its Energy Transition Plan, which targets net-zero emissions by 2060, further solidifies the nation’s commitment to a sustainable energy future. A significant boost to this plan came in the form of a $1 billion financing initiative approved by President Bola Tinubu. A substantial portion of this funding is earmarked for expanding solar energy access in underserved areas through the deployment of mini-grids and solar home systems, benefiting hundreds of thousands of Nigerians. These investments, coupled with the launch of the Nigeria Carbon Market Activation Policy, demonstrate a comprehensive approach to tackling the multifaceted challenges of energy access, economic development, and climate change mitigation.
Afam Victor Ogene, Chairman of the House Committee on Renewable Energy, emphasized the critical need to address Nigeria’s persistent power supply challenges. He argued that the nation’s over-reliance on fossil fuels, despite abundant reserves, has hindered economic growth and productivity. Ogene underscored that the transition to renewable energy not only addresses power generation but also creates economic opportunities, particularly for the youth, through job creation and skills development in the clean energy sector. This perspective highlights the potential of the renewable energy sector to drive both economic and social progress.
The collaborative nature of this effort extends beyond Nigeria’s borders. The presence and participation of the Speaker of the Parliament of Ghana, Alban Sumana Kingsford Bagbin, at the legislative conference underscores the regional importance of this transition. The conference served as a platform for policymakers, legislators, investors, and innovators to share insights and coordinate efforts towards a sustainable energy future for Africa. This collaborative approach recognizes that tackling the complex challenges of energy access and climate change requires collective action and shared responsibility. It signifies a unified front in pursuing a cleaner, more secure, and prosperous future for the region.
