Poor Electricity Supply Problems Cost Nigeria’s Economy Billions Annually – UNDP
By DAYO ADESULU
Poor electricity supply drains Nigeria every year with a whopping sum of over N2 billion, according to the United Nations Development Programme (UNDP). The disclosure was made during the First National Legislative Conference and Expo on Renewable Energy held in Lagos on Monday.
UNDP’s Resident Representative, Elsie Attafuah, emphasized that the country’s poor electricity infrastructure continues to take a heavy toll on multiple sectors, particularly agriculture.
UNDP Blames Power Outages for Agricultural Waste and Job Losses
Attafuah revealed that many farmers suffer massive losses due to post-harvest spoilage of yams, fruits, and vegetables, all stemming from Nigeria’s erratic electricity supply. She noted that this ongoing challenge has further worsened the nation’s unemployment crisis, especially in rural areas where agriculture is the primary source of livelihood.
- To mitigate the damage, the UNDP has launched power-related interventions in northern Nigeria. According to Attafuah, these initiatives have already shown positive outcomes. Farmers who benefited from solar-powered systems now enjoy improved productivity and income, proving that renewable energy can reshape Nigeria’s economy.
- Rivers Political Crisis: Power Struggle Threatens Governance Amid Rising Tensions
- https://crediblenews.com.ng/undp-uncovers-n2bn-nigeria-loses-to-poor-power/
Speaker Abbas Declares Renewable Energy a National Imperative
Also speaking at the event on the poor electricity supply, Speaker of the House of Representatives, Tajudeen Abbas, asserted that embracing renewable energy is no longer a choice but a necessity for Nigeria. He explained that the legislative arm is committed to positioning Nigeria for a clean energy future.
“This conference marks a pivotal moment for Nigeria’s response to its energy crisis. Transitioning to renewable energy is critical not just for economic growth, but also for environmental sustainability,” Abbas said.
He highlighted that in 2024, the world added 585 gigawatts of renewable energy—92% of new global capacity. Financial data reflects this shift, with $1.7 trillion of a total $2.8 trillion in energy spending directed toward clean energy solutions.
Economic Diversification Through Clean Energy
Given Nigeria’s heavy reliance on fossil fuel exports, Speaker Abbas acknowledged that the transition to renewables brings both opportunities and challenges. However, he maintained that a proactive approach would help the country stay competitive in the evolving global market.
To attract investment, the National Assembly has already passed key tax reforms. These include the removal of VAT on renewable energy products and compressed natural gas (CNG), part of broader efforts to create an investor-friendly climate in Nigeria’s clean energy space.
Legal and Institutional Reforms on Renewable Energy
Abbas also noted that the House of Representatives is working to give legal backing to the Federal Government’s Renewable Energy and Energy Efficiency Policy adopted in 2015. These reforms are expected to enhance energy governance and provide a solid framework for scaling up renewable energy infrastructure.
In addition, he stressed the need to improve access to clean cooking fuels, especially for rural communities. This effort will contribute to public health improvements and reduce environmental degradation.
Ogene: Clean Energy Key to Employment and Growth
Chairman of the House Committee on Renewable Energy, Hon. Victor Ogene, reiterated the importance of reducing Nigeria’s dependence on fossil fuels. Representing Ogbaru Federal Constituency, Ogene emphasized that the future lies in clean, reliable, and sustainable power sources.
He also described renewable energy as a powerful tool for job creation, particularly among young people. “Clean energy not only secures our environment but also fuels industrial development,” Ogene said.
States Join Call for Energy Reforms
At the conference, representatives from Abia, Enugu, and Osun states echoed the need for improved power infrastructure. They emphasized that sustainable development cannot be achieved without accessible and reliable energy sources.
Notably, Abia’s Commissioner for Power and Utilities, Ikechukwu Monday, Enugu State’s Special Adviser on Energy, Chief Kingsley Nnaji, and Osun’s Climate Change Consultant, Prof. Chinwe Ogbuagu, all affirmed their commitment to advancing renewable energy projects at the state level.
Ghana and International Partners Weigh In
International delegates also joined the conversation. Ghana’s First Deputy Speaker of Parliament, Prof. Benard Afliator, called for stronger West African cooperation on energy policies. He urged African countries to adopt a united front in leveraging renewable technologies for inclusive growth.
Anika Altaf, Executive Director of the INCLUDE Knowledge Platform, supported these remarks and praised Nigeria’s steps toward energy transition. She advised the government to ensure policies are inclusive and responsive to local community needs.
Conclusion: Urgent Need to Fix Nigeria’s Electricity Supply Problems
In conclusion, the conference reinforced the urgent need to fix Nigeria’s electricity supply problems. Stakeholders agreed that the path forward lies in sustainable solutions, backed by legislative support, international collaboration, and investment in innovation.
If Nigeria can fully embrace renewable energy, it stands to recover the billions lost annually while building a more resilient and inclusive economy.
By DAYO ADESULU
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